College Tuition Up 1225% Since 1978
As has been previously discussed, college tuition is increasing annually, and shows few signs of abating; however, at some point college education will be subject to the law of supply and demand. As demand for college education continues growing – seen in each year’s record numbers of applicants, with total student debt growing beyond the record breaking $1.2 Trillion mark and college tuition skyrocketing, demand for a college education may cool at some point. Furthermore, any decrease in student demand would have the immediate effect of crimping college budgets, forcing an adjustment in the college education market toward a much needed equilibrium, where a reasonable price will prevail. However, when and how the law of supply and demand will make itself known in the college marketplace is up to anyone’s best educated guess. So, additional consideration of which college to choose and what to study in college may be the most prudent course of action.
Graph from: Bloomberg News