When I went to NU, tuition was $2025 PER YEAR. We were told it represented the true total cost while state schools were about 1/3 of that because they were subsidized by the state taxpayers. So now tuition is 25-30 times more. Hard to come up with any kind of justification for that kind of increase. More and more government involvement and higher and higher costsCollege is so expensive because it is heavily subsidized by US taxpayers through federal student loans. When you subsidize something, like electric cars and solar power, you get more of it.
Students have been fed a mantra that any college degree dramatically increases earning power. Unfortunately this is not true for many fields. But student loans can help mask the very high cost of a college degree from a private school.
Higher ed in general has been raising prices at a rate greater than inflation for the better part of 25 years. Much of the extra revenue has gone into administrative or non-teaching positions, as well as capital investment.
Biden's student loan forgiveness plan does nothing to address the fundamental issue presented here.
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