higher ed unaffordable
the nyt reports on a report about the increasing cost of higher ed – increasing about 3 times faster than median family income – and projects that higher ed will be unaffordable in about 25 years. it’s “affordable” now, since
Last year, the net cost at a four-year public university amounted to 28 percent of the median family income, while a four-year private university cost 76 percent of the median family income.
of course, richer families disproportionately send their children to private schools, so the cost for them is relatively lower. as shown in their nice little graphic:
i’m reminded of the fantastically fun adam gopnik/malcolm gladwell new yorker debate on abolishing the institution of the ivy league where gladwell laid out his position: “i’m not arguing that the institution of the ivy league should be abolished, but that the institutions of the ivy league be abolished, their assets divided, and their dorms turned into luxury condos, to the extent that they are not already luxury condos.”