The explosion in college tuition

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College has gotten much more expensive over the last few decades.  Tuition rates have been climbing at more than twice the rate of inflation for the past forty years (“Median household income has grown by a factor of 6.5 in the past 40 years, but the cost of attending a state college has increased by a factor of 15 for in-state students and 24 for out-of-state students.” The Economist, Declining by Degree, 9/2/10), which is causing severe problems, both for the students who attend college (who find themselves up to their eyebrows in debt, but are often entering a meager labor market to pay it off) and those who simply can’t afford to attend.

 

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