By Thomas K. Lindsay
For years now, students, parents, and taxpayers have worried over college-tuition hyperinflation and its concomitant, massive student-loan debt. And for good reason. Over the past quarter-century, average tuition prices have increased 440 percent—far more than the Consumer Price Index and even health-care costs over the same period. In an attempt to foot the ever-higher bills for college, students (and their parents) have burdened themselves with historically high student-loan debt. At roughly $1.2 trillion, student-loan debt stands above total national credit-card debt for the first time in history.
Just as often as we hear the dismal facts about the growing unaffordability of college, we hear from defenders of the higher-education status quo that the fault lies not with universities but with stingy state lawmakers, who, we are told, have been “cutting funding for schools.” CONTINUE READING HERE