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The Real Reason
College Costs So Much

Wall Street Journal, by Allysia Finley

Original Article

Posted By:Desert Fox, 8/23/2013 7:29:21 PM

Another school year beckons, which means it´s time for President Obama to go on another college retreat. "He loves college tours," says Ohio University´s Richard Vedder, who directs the Center for College Affordability and Productivity. "Colleges are an escape from reality. Believe me, I´ve lived in one for half a century. It´s like living in Disneyland. They´re these little isolated enclaves of nonreality." Mr. Vedder, age 72, has taught college economics since 1965 and published papers on the likes of Scandinavian migration, racial disparities in unemployment and tax reform. Over the last decade he´s made himself America´s foremost expert on the

      


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Reply 1 - Posted by: Bubbasuncle, 8/23/2013 7:39:38 PM     (No. 9488480)

FTA: Universities, Mr. Vedder says, "are in the housing business, the entertainment business; they´re in the lodging business; they´re in the food business. Hell, my university runs a travel agency which ordinary people off the street can use."
There´s the truth of the matter, colleges and universities are a business selling everything but a quality education with a license to steal.

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Reply 2 - Posted by: hotcorner, 8/23/2013 7:46:25 PM     (No. 9488488)

Great article. Obama - cap payment of loans @ 10% of income. That will do it - encourage less accountability and place the load on the taxpayer. Everything Obama tries to do is loaded with the wrong incentives. And nothing he proposes works. Too many colleges doing traditional education and too many union employees filling the Dems pockets.



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Reply 3 - Posted by: Susannah, 8/23/2013 8:04:29 PM     (No. 9488501)

Great article. Everything Mr. Vedder said is true, but he forgot one thing: Even the smallest colleges now have what amounts to an on-site mental health clinic, fully staffed with psychiatrists, psychologists, and social workers to deal with all the students who suffer from various conditions ranging from learning disabilities and Asperger´s to full-blown paranoid schizophrenia, manic-depression, depression, and multiple personality disorder.

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Reply 4 - Posted by: shamus, 8/23/2013 8:21:13 PM     (No. 9488520)

Edifice complex.

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Reply 5 - Posted by: joew9, 8/23/2013 10:28:19 PM     (No. 9488624)

The costs have gotten so high that you can´t afford to go unless you get those grants and loans. And in order to get those grants you have to be a member of the correct political group.

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Reply 6 - Posted by: woofwoofwoof, 8/24/2013 12:29:33 AM     (No. 9488664)

A fairly large part of the fraud is by the "for-profits", they recruit dummies to take out federal loans, the dummies drop out with no degree, the government "guaranteed" the loans. But as the costs skyrocketed, the government no longer lets the students out of repayment. The "for-profits" laugh all the way to the bank, whoever loses.

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Reply 7 - Posted by: woodsman, 8/24/2013 9:00:06 AM     (No. 9488959)

Excellent #4!

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Reply 8 - Posted by: Philly_Patriot, 8/24/2013 10:00:08 AM     (No. 9489072)

Dumbed down courses and irrelevant courses and curriculum don´t help college graduates when they graduate into the real world.

Unfortunately a college degree is now de rigeur for the job market no matter how poorly ´educated´* the graduates are.

An 8th grade education in 1920 is more than the equivalent of today´s High School ......... a 1940 High School educations is often the equivalent of a college degree ......... and a 1960 college education often exceeds today´s advanced degrees. etc.

Colleges function is becoming more like tat of a Trade School now that they no longer ´educate´*.

*in the Classical sense.


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Reply 9 - Posted by: retCPO, 8/24/2013 1:44:34 PM     (No. 9489375)

Go to Kahnacademy.org for a fine education an to see what the future will be like.

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Reply 10 - Posted by: Dragonslayer2, 8/24/2013 3:52:39 PM     (No. 9489494)

College now costs so much because of the simple rule that whatever you subsidize, you get more of.

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