In the past 30 years college costs have skyrocketed over and above inflation.
This has probably been because the Federal government gives “free money”
to people to attend college.
And of course since the students get their money to attend college “for free” from the Feds, the colleges can and have jacked up their fees as much as possible. After all the sugar daddy Uncle Sam is paying the bills and the colleges can get away with raising prices sky high.
I found these numbers in a brochure published by Rio Salado Community College which is part of the Maricopa Community College system and for marketing reason they listed things that were happening 30 years ago when the college opened. Some of those things where:
The cost of taking a part time load of 12 hours has went from $25 to $852. The cost has increased by a factor of 34 times or 3400 percent.
The cost of taking a full time load of 18 hours has went from $45 to $1 278. The cost has increased by a factor of 28 times or 2800 percent.
The price of a postage stamp went from 15 cents to 42 cents, an increase of almost 3 times or 300 percent.
The price of a gallon of gas went from $.63 to $1.91, an increase of slightly over 3 times or 300 percent.
The median household income went from $15,064 to $50,233, an increase of slightly over 3 times or 300 percent.
So bases on the prices of a stamp, a gallon of gas and the median family income inflation has roughly tripled the cost of living in the past 30 years.
On the other hand the cost of a college degree at the Maricopa County Community College system has increased by a factor of 28 to 34 times.
Which means the cost of a college education has increased between 9 and 11 times faster then the cost of inflation.
If you ask me the cause of the sky rocketing increase of college is the “free loans and grants” the government gives people who attend college.