The Inflation of College Costs
The simple chart below from the American Enterprise Institute beautifully illustrates the absurd inflation of college tuition and textbooks over the past 20 years. In real terms, the cost of college has effectively doubled over that time period.
Now what would cause such massive inflation? Could it be our government tripping over itself to provide
cheap student loans for children
to spend on vacations, iPads and kegs
(i.e. "college"; see "What
Student Loans Are Used For: Vacations, iPads, Kegs, Entertainment").
Or, per the Daily
Caller, perhaps the
issue is administrative bloat at our institutions of higher education:
The
exact reason prices have increased so much has been hotly debated, but one critical factor at most schools is administrative bloat.
While
student to faculty ratios have remained relatively steady over time, the number of administrators and other non-teaching staff has exploded at schools across the country.