If Milk and Gasoline Were Priced as Colleges Are Priced, How Much Would They Cost Today?
Jan. 26, 2008
When you sell a product which government regulation controls for the benefit of existing producers, you can get away with murder.
This is from the Providence Journal (Jan. 25).
PROVIDENCE -- Brown University is the latest elite institution to consider expanding financial aid to help more middle-income families afford steep college costs, which total more than $48,000 a year for Brown undergraduates.
In the last month, several colleges with large endowments have announced dramatic increases in scholarship money for middle-income students, following the high-profile announcements of Harvard and Yale. . . .
Virtually all of the universities and colleges expanding their aid offerings are in a select tier -- schools with endowments of more than $500 million or $1 billion. Brown's $2.3-billion endowment ranks 26th nationally. . . .
If the price of gasoline and milk had increased at the same rate as college costs have since 1980, gas would now cost $9.15 a gallon and milk $15 a gallon, said Lynne Munson, an adjunct research fellow at the nonprofit Center for College Affordability and Productivity.
You can get a college degree from an accredited college in three years -- maybe two -- for $15,000 to $20,000. A degree from an Ivy League school will not let a graduate earn ten times what a graduate will earn by doing it my way.