Why Does College Cost So Much?

ISBN-10: 0199744505

ISBN-13: 9780199744503

Edition: 2011

List price: $36.95 Buy it from $16.74
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Description: College tuition has risen more rapidly than the overall inflation rate for much of the past century. Over the last thirty years, tuition growth has accelerated. The rhetoric of crisis now permeates public discussion of the cost of attendance. Much of what is written about colleges and universities ties rapidly rising tuition to dysfunctional behavior in the academy. Common targets of dysfunction include prestige games among universities, gold plated amenities, and bloatedadministration. This book offers a different view. To explain rising college cost, the authors place the higher education industry firmly within the larger economic history of the United States. The trajectory of college cost is similar to cost behavior in many other industries, and this is no coincidence. Higher education is a personal service that relies on highly educated labor. A technological trio of broad economic forces has come together in the last thirty years to cause higher education costs, andcosts in many other industries, to rise much more rapidly than the inflation rate. The main culprit is economic growth itself. This finding does not mean that all is well in American higher education. A college education has become less reachable to a broad swathe of the American public at the same time that the market demand for highly educated people has soared. This affordability problem has deep roots. The authors explore how cost pressure, the changing wage structure of the US economy, and the complexity of financial aid policy combine to reduce access to higher education below what we need in the 21st centurylabor market. This book is a call to calm the rhetoric of blame and to find instead policies that will increase access to higher education while preserving the quality of our colleges and universities.

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Book details

List price: $36.95
Copyright year: 2011
Publisher: Oxford University Press, Incorporated
Publication date: 11/17/2010
Binding: Hardcover
Pages: 304
Size: 6.00" wide x 9.00" long x 1.00" tall
Weight: 1.298
Language: English

Introduction
The Landscape of the College Cost Debate
Is Higher Education All That Unusual?
Costs
Higher Education Is a Service
The Costs of Employing Highly Educated Workers
Cost and Quality in Higher Education
The Bottom Line: Why Does College Cost So Much?
Is Higher Education Increasingly Dysfunctional?
Productivity Growth in Higher Education
Tuition and Fees
Subsidies and Tuition Setting
List-Price Tuition and Institutional Grants
Outside Financial Aid
The College Affordability Crisis
Policy
Federal Policy and College Tuition
Financial Aid Policy
Rewriting the Relationship between States and Their Public Universities
A Few Final Observations
Data on Costs and Prices
Granger Causality Tests of the Bennett Hypothesis
Notes
Bibliography
Index
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