It’s no secret that U.S. college tuition costs are rising dramatically, and the high cost of a college education burdens young people and their families. How can we make college more affordable?
Many suggest that the best way to keep tuition affordable is by increasing government assistance through student loans, grants, and tax credits for education. Professor Daniel Lin shows that doing so will actually lead to higher college costs, because loans/grants/tax credits are directly related to the increasing cost of education.
Before we can find any solution, it is important to understand the root cause of the rising prices. Professor Lin finds that increased demand—fueled by improved job prospects for graduates and increased government assistance—is to blame for soaring tuition prices. Knowing the cause should inform our search for a solution.