Higher education in America, historically the envy of the world, is rapidly growing out of reach. For the past quarter-century, the cost of higher education has grown 440%, according to the National Center for Public Policy and Education, nearly four times the rate of inflation and double the rate of health care cost increases. The cost increases have occurred at both public and private colleges.
Like many situations too good to be true–like the dot-com boom, the Enron bubble, the housing boom or the health care cost explosion–the ever-increasing cost of university education is not sustainable.