Cost of College Up 489%

The Chicago Flame published an article today describing the difficulty many middle and lower class families are having in paying for a college education for their son or daughter.

Geoff Berkheimer does a good job in pointing out the exponential increase in tuition that has taken place in the last decade or two.

The cost of attending college rose 439 percent since the early 1980s. The result has been increased dependence on federally-guaranteed student loans and, more recently, private loans to attend college.

Many people will lose access to college during this recession, however these same folks may be able to attend college in a few years without the resulting debt load if these tough times force colleges to lower fees and be price competitive.