This has very little to do with some conspiracy between bankers and universities to indebt students and raise massive capital by massively expanding the university far beyond it's means.
Deep into this article the author hits on what is really at the core of steep tuition inclines. A rapidly reducing share of university funding coming from state governments turning once public institutions into defacto privatized universities.[1]
In this chart [2] UWashington lays out in 2013 dollars that total tuition per student has been around 17,000 for 25 years, however during that period the state contribution was reduced from $14,000 to $5000, while student tuition rose from $3,000 to $12,000
> "This is an important shift in who pays for higher education. In 1990, the state provided nearly 80% of the funding per
student and UW students paid 20% of the funds. In 2011, the state will pay around 30% and UW students will pay 70%." [3]
> In this chart [2] UWashington lays out in 2013 dollars that total tuition per student has been around 17,000 for 25 years
If true, that would make UWashington a shining beacon of frugality and equality (or a really low-end university). That tuition has been massively outpacing inflation is something I have heard from too many different sources to dobut, so the question is: Is UWashington lying in that paper, or is exploding tuition something that affects only a small number of universities (and thus students), and in the latter case why don't students switch to cheaper universities?
"Total tuition" and "tuition charged to student" are two different numbers in this formulation.
"tuition charged to student" has jumped ~9k on top of inflation to compensate for a ~9k decrease in per student state funding.
As to why students don't switch to cheaper universities? Because when it comes time to find that first job academic reputation and professional network matter at least as much and often way way more than having a particular degree.
> "tuition charged to student" has jumped ~9k on top of inflation to compensate for a ~9k decrease in per student state funding.
I got that, but that's a factor 4 increase, whereas the OP article's claim is that it has increased by a factor of 12.
> As to why students don't switch to cheaper universities? Because when it comes time to find that first job academic reputation and professional network matter at least as much and often way way more than having a particular degree.
But if it's a mainstream problem, wouldn't that imply that the majority of students are now visiting "reputable" universities with great professional networks, which would make it less valuable as a distinguishing characteristic?
Deep into this article the author hits on what is really at the core of steep tuition inclines. A rapidly reducing share of university funding coming from state governments turning once public institutions into defacto privatized universities.[1]
In this chart [2] UWashington lays out in 2013 dollars that total tuition per student has been around 17,000 for 25 years, however during that period the state contribution was reduced from $14,000 to $5000, while student tuition rose from $3,000 to $12,000
> "This is an important shift in who pays for higher education. In 1990, the state provided nearly 80% of the funding per student and UW students paid 20% of the funds. In 2011, the state will pay around 30% and UW students will pay 70%." [3]
[1]: http://www.insidehighered.com/news/2006/08/10/private#sthash...
[2]: http://imgur.com/HqVVc0P
[3]: http://www.washington.edu/externalaffairs/files/2012/10/tuit...