By Megan McArdle
The lazy rivers. The dining-hall steakhouse. The hot tubs. The dazzling fitness centers. Journalists who cover higher education love these lists of amenities in student housing, and readers love to hate them.
Take the latest trend in college housing: luxury off-campus apartment buildings that rent only to students. This is, on the face of it, somewhat mysterious. Students are not known for their fantastic credit. Nor for taking excellent care of their surroundings. I myself recall moving into a rather standard off-campus rental that first had to be cleared of the 57 bags of garbage that the previous occupants left behind. Everything you would infer from that fact about the condition of the house is correct.
Yet apparently today’s students have a rather more inviting option: student-only apartment buildings considerably nicer than those occupied by, say, many successful journalists of my acquaintance. This naturally raises the question: Where are the students getting the money for this? CONTINUE READING HERE