Reply to When will the college tuition bubble burst?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Everyone here posting the roundly disproven Bennett hypothesis that federal loan availability drives the cost of college needs to take a good hard look at the proportion of the cost of their in-state option that has been paid by the state government over the last, say, 50 years. It's a line plummeting almost down to the Y axis in some states [b](and especially for the flagship publics, which play a key role in setting expectations in a state about what college "should cost.")[/b]

http://www.amacad.org/sites/default/files/academy/multimedia/pdfs/publications/researchpapersmonographs/PublicResearchUniv_ChangesInStateFunding.pdf

In 43 states, state revenue contributions to public higher education are still below where they were before the Great Recession--and in 7 of those they are 30% below where they were. https://shef.sheeo.org/report/

[b]In general, public institutions' costs set the floor of what is "reasonable," and privates follow it accordingly. [/b]

So if you want lower tuition costs, vote for public investment in public higher education. [/quote]

that doesn't explain why 70k seems to be the new going rate for costs at a good SLAC or private [/quote]

It does, especially when you factor in the brinksmanship between state flagships competing for out-of-state (and international) students, who are typically full pay.

For example, when I went off to college in NJ in the early 1990s, Michigan would have cost me and my family about $25k per year, all-in. I can't find a number for the 1990s, but in 1968 state approps were 68% of the cost of UM's budget--it was less, but not dramatically less, by the 90s.

State appropriations to UM have since declined dramatically. They're now 14% of the budget. And for out of state first-years now, Michigan is $66,698.

With that price competition in the public sector, why [b]shouldn't[/b] Bowdoin charge $75k or more, especially if they have a lazy river and a climbing wall on top of it?[/quote]

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