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Monday, January 13. 2014

The price of tuition

Peter Schiff, from a few years ago (h/t Moonbattery).


His points are well-taken, but most of them would apply to housing costs and car costs, too. Easy credit raises prices.



Posted by The Barrister in Education at 14:18 | Comments (3) | Trackbacks (0)

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Summary: over hundreds of years Ivy league tuition was quite stable, but suddenly in the second half of the 20th century it started increasing above inflation to the point where it is some thirty-times more than it was. What changed?
Schiff says: people thought it was too expensive, so the government put in place programs to make it affordable. That money effectively allowed customers to "bid up" what they were willing to pay for a scarce good, such price increases begat more programs to make it "affordable".
The loans available are essentially limitless, and only available at an interest rate tolerable to the market because they are govt. guaranteed.
#1 Douglas2 on 2014-01-13 16:51 (Reply)
As the saying goes, I am from the government and I am here to help. This is the MOST scariest wording in the English language and probably any other language.
#2 Heltau on 2014-01-13 19:33 (Reply)
I went to a commuter college in the '70s. I was fortunate that I went to college in the '70s. I was fortunate that I didn't have to work my way through but every one of my friends did have to work their way through college and they had no problem doing it. They worked part time through the semester and full time in the summer. Some lived with their parents but most lived in apartments - usually with at least one room mate. And when they graduated, they had little or no debt.

There is no way a student could go to that today.
#3 mudbug on 2014-01-13 21:31 (Reply)

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