It’s not just parents complaining about the cost of college, as state and national policymakers search for ways to balance it against the need for more graduates to fill future jobs.
At a lecture to board members of the Federal Reserve Bank of Atlanta last week, Glenn Reynolds, a University of Tennessee professor and author of “The Higher Education Bubble,” reminded them of Stein’s principle of economics, which says, “If something cannot go on forever, it will stop.”
Since the price of tuition grows faster than personal income, a college education is rapidly becoming unaffordable for average families without relying on their retirement savings, an inheritance or loans to foot those bills.
One thought on “Pace of college tuition hikes outpacing incomes”
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Since wages have been stagnant or decreasing over the last 10 years, of course, college tuition hikes will outpace incomes.