Reply to Is It Really Gonna Cost $280K? OMG

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Instead of judging people's choices of HOW they will be paying for college...

How about we all ask the question, WHY does college cost $280K????

[/quote]

Because it is and people are still willing to pay![/quote]

And because the student loan industry gives schools every incentive to keep jacking up tuition at a rate that far outpaces inflation.

[img]https://college-education.procon.org/files/1-euthanasia-images/college-cost-v-median-incomes5.png[/img]

[img]http://www.mybudget360.com/wp-content/uploads/2015/08/cost-of-living-chart.jpg[/img]

[i]Source:  David Stockman

This is a very telling chart.  First, let us look at the biggest line item with housing.  A new home today costs $270,200.  That 1975 home adjusting for inflation would cost $209,417.  This is a “real” increase of 29 percent.  A new car costs $31,252 while that 1975 car adjusting for inflation would cost $16,578.  This is a true doubling of cost here.  Public college costs are up over 150% while private college costs are up over 160%.  And you wonder why we have over $1.3 trillion in student debt outstanding.

What is more affordable relative to inflation?  Milk, eggs, and a postage stamp.  Unfortunately these are tiny line items on your household budget.

What you need to look at is the median income here.  US households overall are simply poorer.  They have less to spend relative to the cost of goods and services.  Money is only as good as what it can purchase.  You can’t eat hundred dollar bills.  This is part of the reason why many people feel like they are poorer.  It is also a big reason as to why the homeownership rate continues to fall.[/i][/quote]

The college tuition scamming needs to stop.[/quote]

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