Tuesday, September 03, 2013

Should we shut up about college costs?

Nick Gillespie tells critics of colleges to shut up. He points out the usual stats about how much more successful college grads are than non-grads and points out that many students pay much less than the sticker price due to grants, etc. The fact that it is possible for someone to get a college education and not ruin his life is not much justification for the greed and corruption and outrageous tuition increases in the university system. It's a system that is enriching academia and corrupting it. While it's true that students should be wiser about where they choose to go and should avoid outrageously expensive schools, there is still plenty of blame to put at the feet of the colleges. It's an incredibly inefficient system that is rewarding the wrong people without much societal benefit. At the end of the piece he starts to make sense when he attacks subsidies for colleges and says "All that free and reduced-price money is one of the main reasons why the main reasons college costs outpace the general rate of inflation—what some have properly identified as a higher-education bubble. Far from making college more affordable, increasing subsidies to students—whether in the form of larger grants or bigger loans at low, low rates—allows colleges to raise prices with near impunity." I totally agree with this explanation of the higher education bubble. I'm just not sure why he's telling people to shut up about the increasing cost caused by bad government policy.