Re:Tuition costs have risen 710% since 1983 (1200% since 198...
by solarmist on Monday July 10, 2023 @01:33PM
(#36669806)
Demand isn’t fully inelastic.
Many people are forgoing college that would’ve gone 20 years ago. It’s not huge yet, but it is happening.
The rest of your point stands though.
Re:Tuition costs have risen 710% since 1983 (1200% since 198...
by toomuchtodo on Monday July 10, 2023 @03:34PM
(#36671781)
Agreed, but they're forgoing college because they better opportunities without acquiring the BS credential due to a tight labor market, demographics and older folks retiring making trades and non college paths more lucrative, etc. The debt load is not worth the potential opportunity benefit.
The whole "get a college degree if you want to be middle class" scam is evaporating, which results in your observation.
https://reason.com/2023/03/31/poll-most-americans-dont-think...
Hopefully states experimenting with universal higher education legislation makes some improvement possible: https://apnews.com/article/minnesota-legislature-college-tui... ("Minnesota lawmakers reach deal for free college tuition")
Note for this article that private colleges have the highest drop out rate, and Minnesota's plan excludes such institutions:
> Qualifying students would have to attend a two- or four-year school in either the University of Minnesota or Minnesota State systems, or a tribal college. Private college tuition would not be covered.
> From 2008 through 2009, enrollment in private for-profit colleges rose disproportionately compared to private non-profit and public colleges. Private for-profit colleges have extraordinarily high rates of default, near 16% of borrowers default within 3 years.
https://educationdata.org/student-loan-default-rate