Re:Problems with relying on billionaires to save us
by nebula8804 on Wednesday October 13, 2021 @04:06PM
(#28856994)
Yes I understand this but he does not. Government can step in and dictate how much an education should be paid for at a fair market price. Yes there will always be private schools that will go all out but the point of this whole thing is to provide an avenue for anyone to be able to better themselves through hard work. Public tuition free schooling is what modern economies should all strive to have (and all but one really already have it)
With college in the US, the specific mechanism seems to be a combination of (a) colleges that have an incentive to raise tuition as high as people will pay, (b) people who consider a college degree important enough that they'll pay as much as they can afford, and (c) government action that greatly increases people's ability to pay, either via subsidies or by expanding the availability of student loan debt.
Compare this to the public K-12 school system, which doesn't have the same split between a seller and a cost-insensitive, subsidized buyer in its funding structure. (This is similar, I believe, to the way college is funded in a lot of other countries.) The cost per pupil in public K-12 school is also rising faster than inflation, but at a much slower rate than higher education. Same country, different funding structures, different results.