source: HuffPost College http://www.huffingtonpost.com/college/
Cost Of College Degree In U.S. Has Increased 1,120 Percent In 30 Years, Report Says
The cost of a college degree in the United States has increased "12 fold" over the past 30 years, far outpacing the price inflation of consumer goods, medical expenses and food.
According to Bloomberg, college tuition and fees have increased 1,120 percent since records began in 1978.
Using this chart to explain its findings, Bloomberg reports that the rate of increase in college costs has been "four times faster than the increase in the consumer price index." It also notes that "medical expenses have climbed 601 percent, while the price of food has increased 244 percent over the same period."
This is not the first time in recent months that rising college costs have been in the news.
Earlier this year, the Associated Press reported the average tuition at four-year public universities had increased by 15 percent between 2008 and 2010. Private universities were also found to have had significant price increases.
“Soaring tuition and shrinking incomes are making college less and less affordable,” Sen. Tom Harkin (D-IA), chairman of the Senate Health, Education, Labor and Pensions Committee, told Bloomberg. “For millions of young people, rising college costs are putting the American dream on hold, or out of reach.”
Indeed, as tuition costs continue to rise and the national student loan debt hits $1 trillion, some people have been left wondering if college is even worth it anymore.
Education Secretary Arne Duncan told the Associated Press in June thatlowering college costs needs to be priority for the whole country.
"As a nation, we need more college graduates in order to stay competitive in the global economy," Duncan said. "But if the costs keep on rising, especially at a time when family incomes are hurting, college will become increasingly unaffordable for the middle class."
See! What have I been telling you for months, since I started this blog?
Has hell frozen over? Apparently the Huffington Post and the Golden Geese News are in agreement. College tuition costs are too high. HoffPo didn’t have to go to Bloomberg though, they could have asked me, or anyone else who went to college a few years back, and has been paying any amount of attention since.
I’ve been saying that the people running our colleges and universities are crooks for years. They have been stealing from students and taxpayers, and now I am going to go after them.
Look for more posts in the coming days about why things suck so much for all of us nowadays, and who is responsible. I’m tired of seeing me and hard working people who have even less than me getting ripped off by people who make six times what I do.
Today, I will leave you with this. Nothing should ever increase in price faster than the rate of inflation. (Unless there is a legitimate, free market reason for it, like a huge increase in demand, huge decrease in supply, or huge increase in cost of providing or manufacturing it.)
Whenever the price of anything wildly outpaces inflation, that should send up the red flags. There is an excellent chance that someone’s ripping someone else off!