The Cost of Higher Education — Crooked Timber

Suppose you wanted to go live at a luxury resort for four years. You’d expect that to cost, wouldn’t you? (No one is going to write an editorial raging about how if you wanted to live at Club Med it would cost you at least $50,000 a year – probably more.) So why are people surprised that it costs a lot – really a lot – to send a kid to college for four years? College is the sort of thing that seems like it should cost a lot: beautiful buildings on nice land, nice gym, nice green spaces, expensive equipment, large staff that have to be well-paid because they provide expert services. If you want to be puzzled about something, figure out how and why it was ever cheap, not why it costs now.