The Daily

The College Pricing Game

33 snips
Sep 14, 2022
Ron Lieber, a personal finance columnist for The New York Times and author of "The Price You Pay for College," takes a deep dive into the skyrocketing costs of higher education. He discusses the daunting rise in tuition prices, explaining factors like reduced state funding and increased administrative expenses. Lieber also critiques the complexities of financial aid and advocates for more straightforward approaches to support students. Furthermore, he examines how elite institutions manage pricing strategies and the impact on accessibility for lower-income families.
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INSIGHT

Soaring College Costs

  • College tuition costs have skyrocketed, with private four-year institutions exceeding $80,000 annually.
  • Public school costs have also risen sharply, often topping $30,000 a year, making it harder for students to work their way through.
INSIGHT

Administrative Costs

  • Increased administrative costs are a significant factor in rising tuition, driven by regulations and parental demands.
  • Colleges need more staff to handle these requirements, often with advanced degrees and higher salaries.
INSIGHT

Amenity Wars

  • The "amenity wars" among colleges contribute to rising tuition as schools compete for students.
  • Families compare facilities like gyms, common spaces, and housing, pushing schools to invest and raise prices.
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