New Study Analyzes the High Cost of College

James G. Martin Center for Academic Renewal ^ | April 28, 2021 | George Leef

[karpov]

TANSTAAFL. There Ain’t No Such Thing As A Free Lunch.

That’s the pithy way that economists convey the idea that there are always costs associated with the goods and services we consume. Some resources, if only our time, had to be expended so we could enjoy them. Despite foolish talk from politicians about giving us “free” college, higher education cannot escape costs. People must pay for all of the inputs that go into the college experience.

But just how much are we paying? And what are we paying for?

Those are the main questions addressed in a new study published by the National Association of Scholars, Priced Out: What College Costs America. In it, author Neetu Arnold delves into the revenues and expenses of our higher education institutions.

Most Americans are used to thinking of college as an expensive but extremely valuable service that’s provided by well-meaning experts who are doing their best to keep it affordable.

Arnold’s view, however, is deeply skeptical. Her research shows that college officials spend huge amounts on non-educational programs and personnel that they desire and which add considerably to the costs imposed on students, families, and taxpayers.

Priced Out highlights two well-known facts, namely that the cost of college has been rising much faster than the rate of inflation for more than 40 years, and that many students today appear to have derived little educational benefit or employment boost from their college years. It also shows the connection between them.

What is that connection?

[marktwain]

Most colleges have become a means of transferring dollars from the government and students into the hands of leftist bureaucrats.

[sauropod]

.

[COBOL2Java]

Graduates find it hard to get a well-paying job with a degree in Underwater Basket Weaving...

[Brian Griffin]

Prospective college students (and their parents) should take a look at this before signing for any student loan:

https://www.newyorkfed.org/research/college-labor-market/college-labor-market_compare-majors.html

[Brian Griffin]

“the cost of college has been rising much faster than the rate of inflation for more than 40 years”

The tuition charges for some have gone up a lot so the “underprivileged” can pay far less. “Social justice” has come to the college bursar’s office.

[Labyrinthos]

Interesting link. The key stat is “underemployment,” which shows the number of people with an advanced degree who work one or more jobs where the primary qualifications are the ability to say “May I help you please,” and then fill a cup of coffee.

[Labyrinthos]

The tuition charges for some have gone up a lot so the “underprivileged” can pay far less. “Social justice” has come to the college bursar’s office.

I was just about to point that out. While most colleges lower the admissions bar for certain demographics in the name of diversity, the biggest affirmative action program is the acceptance of under achieving, barely qualified applicants (who are often legatees) from wealthy families, who are willing to pay full sticker price with no questions asked. The colleges then use the money from this student pool to subsidize the costs for the underprivileged. This is nothing more than a redistribution of wealth.

[Labyrinthos]

Here is another interesting link: https://www.collegetuitioncompare.com/statistics/the-most-expensive-colleges/

Note that the average salary 10 years after graduation at most of these place is less than one year’s tuition.

[SgtHooper]

Cut off all funding, federal/state or otherwise, to higher education (dry up the traitorous unions); terminate all real estate taxes mandated for public schools (dry up the traitorous public teacher unions); and, terminate all state and federal employee unions (make illegal at all levels)!!