In theory, it should. The harsh reality, though, is that these students are entering one of the most expensive higher education systems in the world. The majority of them will not be able to afford it. Many will leave with crippling debts, and even more w
Tuition Costs Have Quadrupled
It’s especially bad if you want to go an Ivy League school. An average annual bill for a top-tier University in the United States is about $50,000 per year—which is about equal to every penny the average American family makes in a year.
Here’s the crazy part: They don’t charge you that much because they need the money. Harvard makes enough money from endowments that they don’t even need to charge tuition to make a profit (and indeed do not charge students whose families make less than $65,000 per year).
. . . But Government Funding Has Actually Gone Up
The average professor’s salary is almost the exact same as it was in the 1970s, so the money’s not going to the teachers. Instead, it’s going to administration. University administration teams have grown at 10 times the rate of tenured professors—so we’re getting better business people and pretty much the same teachers.