Saturday, September 8, 2012

Inflation in American Higher Ed

Statistics like this are what have many of us involved with higher ed feeling queasy. Writing for the Wall Street Journal, John Pelletier reports:

"The College Board reports that from 1981 to 2011, after adjusting for inflation, the average published cost of going to college is up 180% for private, nonprofit four-year colleges and 268% for in-state, public four-year colleges."

Note that this is after adjusting for inflationPelletier's article provides a succinct review of many other alarming stats as well:

J. Pelletier / Wall Street Journal: Why go to college if I can't get a job?

Despite the higher ed cost bubble, it is still important to recognize the historical value of a college degree, as Pelletier notes:

"The Economic Policy Institute study shows that the recent unemployment rate for high school graduates between age 17 and 20 who aren't enrolled in additional schooling is 31.1%.  And their underemployment rate is 50.4%."

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