Why Does College Cost So Much? - Hardcover

ARCHIBALD

Hardcover

ISBN 10: 0199744505 ISBN 13: 9780199744503

Publisher: Academic, 2017

Synopsis

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 bloated administration.

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, and costs 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 century labor 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.

About this title

Review:

Intriguing...very timely (John Lea, Times Higher Education)

About the Author:

Robert Archibald teaches economics and public policy at the College of William and Mary. While he has held several administrative posts, he is regularly promoted back to the faculty. In the past six years, together with David Feldman, he has published widely on the economics of higher education. David Feldman teaches in the economics department and in the Public Policy Program at the College of William & Mary. He has been honored with a University Professorship for Teaching Excellence. In addition to his work with Robert Archibald on higher education he writes about the international economy.

About this edition

• Publisher: Academic
• Publication date: 2017
• ISBN 10: 0199744505
• ISBN 13: 9780199744503
• Binding: Hardcover
• Number of pages: 302