How Much Bigger Can The College Tuition Bubble Get Before It Pops?

“The sticker price of my Syracuse University education was $1,400 in 1971, my senior year.  That is $8,600 in today’s dollars.  The current sticker price at Syracuse is $43,000.” – from a blog post responding to this article:

So a college “education” today costs 5x of what it did back in the early seventies in adjusted dollars? That is fucking nuts. Do people in college learn 5x as much as back then? The obvious answer is a resounding “No.” Actually, a “Fuck, No” would be more accurate. It’s more likely they learn about a fifth as much instead.

And just what are the arguments that colleges make to justify these ludicrous tuition prices? Well, if you listen closely you can just make out that there are practically none. Colleges and Universities are simply acting as rational participants in the marketplaces would. They keep raising prices because people keep paying them even if they don’t believe that they’re getting good value for the money. In today’s world of credentials over ability, a college education has become the new high school diploma  and the current belief in most of society is that you won’t be able to get a “good job” without a degree. Sadly, a college education provides no real guarantee of getting a “good job”:

Students who graduated into the Great Recession have struggled to find work that fits their learning. But according to research released on Monday, millions of college graduates over all—not just recent ones—suffer a mismatch between education and employment, holding jobs that don’t require a costly college degree.

The study, from the Center for College Affordability and Productivity, says that nearly half of all American college graduates in 2010—some three years after the recession began—were underemployed, holding relatively low-paying and low-skilled jobs.

According to a report on the study, “Why Are Recent College Graduates Underemployed? University Enrollments and Labor Market Realities,” out of 41.7 million working college graduates in 2010, 48 percent—more than 20 million people—held jobs that required less than a bachelor’s degree. Thirty-seven percent held jobs that required no more than a high-school diploma.

This bubble will pop, but probably not before another Great Depression sized financial disaster hits the U.S. that resets the entire economy, and maybe leads to the possible break-up of the country.

9 thoughts on “How Much Bigger Can The College Tuition Bubble Get Before It Pops?

  1. It’s not just college education costs that are rising. Primary and secondary education costs are steadily increasing, but are mostly hidden because taxpayers are footing the bill for public school education.

    Colleges and Universities are raising tuition and fee costs, because they can. There is no real accountability in how they spend money, because they are run and overseen by people with similar mindsets.

    Generally left wing democrats, who believe that they deserve to be paid even more…

    Liked by 1 person

    • Just to add, I read a modest proposal a while back that I thought was a pretty good idea:
      “If you’re not allowed to ask a job candidate whether they’re gay, you’re not allowed to ask them whether they’re a college graduate or not. You can give them all sorts of examinations, you can ask them their high school grades and SAT scores, you can ask their work history, but if you ask them if they have a degree then that’s illegal class-based discrimination and you’re going to jail. I realize this is a blatant violation of my usual semi-libertarian principles, but at this point I don’t care.”
      The above would indeed level the playing field and fix a lot of issues.

      Liked by 1 person

  2. a college education has become the new high school diploma

    college kids act like middle or high schooler’s, too. one of the girls at my chiropractic office is working her way thru college, and she said very few of the students actually put forth any effort at all. they don’t pay attention during class. they don’t turn in assignments. she said two girls were goofing off in the bathroom during a class b/c she heard them say, “Let’s go back to class, now.” seriously?! they have no respect for their education. but their parents are paying for it, so they don’t care.

    Liked by 1 person

  3. The entire U.S. economy is based on the lie of consumer debt. For long term financial security be in an industry that services basics needs and doesn’t rely on a shit ton of debt

    Poltical note; I understand these kids who want free college/ student loans forgiveness. We pay for a high school education in part because it’s supposed to help create citizens that can enter into the work force at a decent wage/ job so they can have a decent quality of life for themselves and generate a decent tax base for the rest of us. We then created an economy where a high school grad ain’t worth much, double down on that fucking by allowing a situation where jews and their bankers can exploit the shit out of our young people who want a decent life via delayed usery. We fucked those kids coming and going. Elephants and donkeys alike dry fucked those kids in the ass with a huge, rusty hiv infected blue whale size dick then ridcule them for being in a siatuation we creatred

    Liked by 2 people

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