There's little debate that higher
education in the United States is not only quite expensive, but getting
more so at a rapid rate. The average total cost for one year of college
is now over $21,000, while the average private school costs nearly
$33,000. By comparison, the median household income is around $50,000.
What's more, while household net worth fell about 40% from 2007 to 2010,
the cost of higher education rose about 10%. In
a normal market, high costs are supposed to reduce demand. However,
higher education isn't a normal market. Not only does the federal
government get involved in the form of grants, subsidized loans and
other kinds of assistance, but there is a widespread viewpoint that
higher education is essential to future success in life. Consequently,
students have little choice but to figure out some way to pay for their education.
Read more here:
http://www.investopedia.com/financial-edge/0612/Who-Should-Pay-For-College.aspx#axzz1yBpVFB1Y
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