Why college/university is so expensive in the USA

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SUMMARY

The rising costs of college and university education in the USA are primarily driven by exorbitant dormitory expenses and institutional greed. Discussions highlight that modern dorms offer luxurious amenities, significantly inflating tuition fees, while many students find off-campus living to be more economical. The conversation also points to a troubling trend where universities invest in student loan derivatives, exacerbating the financial burden on students. Ultimately, the consensus is that the current higher education system is unsustainable and may lead to a collapse.

PREREQUISITES
  • Understanding of college tuition structures and fees
  • Familiarity with student loan systems and derivatives
  • Knowledge of off-campus versus on-campus living costs
  • Awareness of the job market for recent graduates
NEXT STEPS
  • Research the financial implications of living off-campus versus in dorms
  • Explore the impact of student loan derivatives on university funding
  • Investigate alternative educational institutions with lower costs, such as Berea College
  • Analyze job market trends for graduates in various fields
USEFUL FOR

Students considering higher education, parents evaluating college costs, policymakers addressing educational funding, and financial advisors guiding clients on student debt management.

  • #31
Why is tution skyrocketing ? Too many people.

When I was a first year engineering student, the tuition was around 9k. I saw way too many people getting into engineering without knowing what they wanted to do. They just wanted the prestige and the money but they didn't even know if they had the innovation required to solve real world problems.

People are being led to believe that you need to become a CEO, accountant, lawyer, doctor or an engineer in order to be deemed "worthy" in society and live a "good" life. Hence, a lot of people blindly enroll in university and the prices skyrocket.
 
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  • #32
People are being led to believe that you need to become a CEO, accountant, lawyer, doctor or an engineer in order to be deemed "worthy" in society and live a "good" life. Hence, a lot of people blindly enroll in university and the prices skyrocket.

Don't prices generally fall when there is a lot of something? Why would the masses enrolling make the price go up if they have to pay for it themselves?
 
  • #33
Zryn said:
Don't prices generally fall when there is a lot of something? Why would the masses enrolling make the price go up if they have to pay for it themselves?

Depends how you see the student. Is the student the supply or the demand?
 
  • #34
CheckMate said:
People are being led to believe that you need to become a CEO, accountant, lawyer, doctor or an engineer in order to be deemed "worthy" in society and live a "good" life. Hence, a lot of people blindly enroll in university and the prices skyrocket.

Good point. When demand increases, prices do too.

Zryn said:
Don't prices generally fall when there is a lot of something?

Only where there's a lot of supply. When there is a lot of demand, prices rise.