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 Tuesday, The Higher Education Bubble author and University of Tennessee Professor Glenn Reynolds 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, it’s rapidly becoming unaffordable to average families without reliance on their retirement savings, an inheritance or loans.