Reply to Will top privates ever put a cap on tuition?

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[quote=Anonymous]The other poster on the first page had it correct. As long as people are willing to pay, the tuition will go up. And the incomes of the top 1% has skyrocked relative to the rest of society, even the second 1% below them. They are the ones who dominate the private schools, so we have a scenario where even the 2nd 1% are now being priced out whereas 20 years ago they could easily afford the schools.

It's a scenario that feeds upon itself. The schools are now increasingly geared towards catering to the desires of the 1% so they spend fortunes on fancy campus improvements and facilities because the very rich demand those, which in turns causes them to raise tuitions to pay for those facilities. 20 years ago people were much more content with a less fancy, less extravagant campus (the same can be said for colleges).

This has been very much the case in the UK too. Private and boarding school fees were pretty reasonable in the 1980s and up through the 1990s because the bulk of their "buyers" were the upper middle classes, heck even normal middle class people could manage to scrape together the fees at a local day school. But then the top 1% saw their disposable incomes skyrock and demanded more, and fees went up sharply, and suddenly to keep attracting the top 1% the schools went on a building spree, adding fancy new science centers and new dormitories (where every student has his/her own room rather than sharing) and so on, and now much of the upper middle classes are being priced out of the independent sector altogether. Many UK schools now rely on having many international students paying full freight to balance the books. [/quote]

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