How about college tuition, adjusted for inflation, soaring 72% since 2002?
Students are paying less and less of direct college costs, relying more on government grants and loans. That has encouraged universities to jack up tuition expenses, fueling a vicious circle reminiscent of the housing bubble.
U.S. universities charged students $190 billion in 2001-02 for tuition, fees, room and board and more, according to data from Sallie Mae. By 2010-11 that had more than doubled to $410 billion. Even after adjusting for inflation, student charges shot up 72%.
Of course, not every college student wastes her time on gaining useless knowledge. Here’s a Glenville girl who’s learning the one sure career out there, lobbying on Capitol Hill. Best of all, she’s cutting her teeth on what’s sure to be the governmental response to out of control college costs, subsidized housing for sororities. Then it’s on to lobbying for universal health care, no doubt, and the kid will be set for life.