by Philip Wubbolt
Higher education costs have been rising for years and compared to how the prices of other goods have risen, there is a significant difference in how much those prices had risen. From 1985 until now, the costs for higher education had risen in excess of 500%. Compared to other goods and services, this is absolutely significant. Medical costs have risen in excess of 280% and 120% in the consumer price index. This rise in higher education costs, further exacerbates the problem of the inequality and income gaps. If a family is unable to pay for college, this can inhibit that child’s ability to further his education and have a higher paying job. This then has a compounding effect on further and later generations. There are efforts from politicians to lower or slow the rising costs for education, however these efforts have not made much of a difference. The question now is, are students and kids getting what they paid for? Are the jobs kids are receiving after college, making up for the significant prices?
See: College Costs Surge 500% in U.S. Since 1985: Chart of the Day