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2002 to 2012 Textbook prices increased 82%, tuition and fees increased 89%
Posted on 2/3/16 at 8:39 pm
Posted on 2/3/16 at 8:39 pm
LINK
In 2005, based on data from the Bureau of Labor Statistics, we reported that new college textbook prices had risen at twice the rate of annual inflation over the course of nearly two decades, increasing at an average of 6 percent per year and following close behind increases in tuition and fees. More recent data show that textbook prices continued to rise from 2002 to 2012 at an average of 6 percent per year, while tuition and fees increased at an average of 7 percent and overall prices increased at an average of 2 percent per year. As reflected in figure 1 below, new textbook prices increased by a total of 82 percent over this time period, while tuition and fees increased by 89 percent and overall consumer prices grew by 28 percent.
In 2005, based on data from the Bureau of Labor Statistics, we reported that new college textbook prices had risen at twice the rate of annual inflation over the course of nearly two decades, increasing at an average of 6 percent per year and following close behind increases in tuition and fees. More recent data show that textbook prices continued to rise from 2002 to 2012 at an average of 6 percent per year, while tuition and fees increased at an average of 7 percent and overall prices increased at an average of 2 percent per year. As reflected in figure 1 below, new textbook prices increased by a total of 82 percent over this time period, while tuition and fees increased by 89 percent and overall consumer prices grew by 28 percent.
This post was edited on 2/3/16 at 8:41 pm
9
Posted on 2/3/16 at 8:44 pm to danilo
That's what happens when government backs loans that anyone can get. Colleges can increase prices to whatever the frick they want without repercussions.
This post was edited on 2/3/16 at 8:47 pm
Posted on 2/3/16 at 8:44 pm to ell_13
End of thread.
Posted on 2/3/16 at 8:46 pm to danilo
If you were selling something to someone who was forced to buy your product and had unlimited money, how much would you charge?
ETA: what ell said
ETA: what ell said
This post was edited on 2/3/16 at 8:49 pm
Posted on 2/3/16 at 8:48 pm to ell_13
quote:
That's what happens when government backs loans that anyone can get. Colleges can increase prices to whatever the frick they want without repercussions
It's amazing that this isn't discussed more.
This is the root cause.
Posted on 2/3/16 at 8:48 pm to danilo
You can thank Washington DC for this. In 2009, Obama federalized student loans thus making unlimited cheap money. Universities saw the potential for massive price increases in everything and passed it along to the consumer.
It reminds me of how enthusiastic young, college aged voters were for Obama. This is what they got.
Bernie Sanders will make it even worse.
It reminds me of how enthusiastic young, college aged voters were for Obama. This is what they got.
Bernie Sanders will make it even worse.
Posted on 2/3/16 at 8:48 pm to ell_13
Tuition has increased because of states giving less money to universities thus tuition has become and main source of funding.
Posted on 2/3/16 at 8:50 pm to LSUwag
Lol
This has been going on since well before Obama.
This has been going on since well before Obama.
This post was edited on 2/3/16 at 8:50 pm
Posted on 2/3/16 at 8:51 pm to danilo
quote:
Tuition has increased because of states giving less money to universities thus tuition has become and main source of funding.
if state aid remained at the rates required every state would be fricking bankrupt
Posted on 2/3/16 at 8:51 pm to danilo
quote:
Tuition has increased because of states giving less money to universities
Your example is specific to louisiana and Jindal. GTFO.
Posted on 2/3/16 at 8:53 pm to ell_13
the budget realities of LA mean we had to slash about $400M
imagine fairy dust was invented and we could have kept the same rates. we'd STILL need 50% more to fund the increase
imagine fairy dust was invented and we could have kept the same rates. we'd STILL need 50% more to fund the increase
Posted on 2/3/16 at 8:54 pm to danilo
Oligopolistic racket from textbook suppliers coupled with guaranteed loans from the Fed. It's pathetic, really.
Posted on 2/3/16 at 8:56 pm to SlowFlowPro
The increase in available funding created a market for researchers and professors that is well above sustainable rates that those students (re: parents) can afford out of their own pockets, even if they saved 5 times college rates when those students were first born. It's fricking insane.
This post was edited on 2/3/16 at 8:57 pm
Posted on 2/3/16 at 8:56 pm to Carson123987
the fact that we allow our public institutions to promote no bid, crony/kickback-laden deals with book manufacturers is literally criminal
Posted on 2/3/16 at 8:58 pm to ell_13
quote:
Your example is specific to louisiana and Jindal. GTFO.
Nationwide bro. Do u even New York Times?
quote:
In the last decade, even as enrollment at state colleges and universities has grown, some states have cut spending for higher education and many others have not allocated enough money to keep pace with the growing student body. That trend has accelerated as state budgets have shrunk because of the recent financial crisis and the unpopularity of tax increases.
Nationally, state and local spending per college student, adjusted for inflation, reached a 25-year low this year, jeopardizing the long-held conviction that state-subsidized higher education is an affordable steppingstone for the lower and middle classes. All the while, the cost of tuition and fees has continued to increase faster than the rate of inflation, faster even than medical spending. If the trends continue through 2016, the average cost of a public college will have more than doubled in just 15 years, according to the Department of Education.
LINK
Dont worry though. Dont let facts get in the way of your opinions.
Posted on 2/3/16 at 8:58 pm to Carson123987
quote:Good point, Carson. $300 for a fricking french workbook that can only be used once?
Oligopolistic racket from textbook suppliers
Posted on 2/3/16 at 8:59 pm to ell_13
admin costs are the real killer
LINK
LINK
quote:
It is disingenuous to call a large increase in public spending a “cut,” as some university administrators do, because a huge programmatic expansion features somewhat lower per capita subsidies. Suppose that since 1990 the government had doubled the number of military bases, while spending slightly less per base. A claim that funding for military bases was down, even though in fact such funding had nearly doubled, would properly be met with derision.
Interestingly, increased spending has not been going into the pockets of the typical professor. Salaries of full-time faculty members are, on average, barely higher than they were in 1970. Moreover, while 45 years ago 78 percent of college and university professors were full time, today half of postsecondary faculty members are lower-paid part-time employees, meaning that the average salaries of the people who do the teaching in American higher education are actually quite a bit lower than they were in 1970.
By contrast, a major factor driving increasing costs is the constant expansion of university administration. According to the Department of Education data, administrative positions at colleges and universities grew by 60 percent between 1993 and 2009, which Bloomberg reported was 10 times the rate of growth of tenured faculty positions.
Even more strikingly, an analysis by a professor at California Polytechnic University, Pomona, found that, while the total number of full-time faculty members in the C.S.U. system grew from 11,614 to 12,019 between 1975 and 2008, the total number of administrators grew from 3,800 to 12,183 — a 221 percent increase.
Posted on 2/3/16 at 9:01 pm to SlowFlowPro
In these threads all you usually get is 1) frick these students they took out the loans 2) the government caused this and 3) shouldn't take out that much money for an arts degree. 4) should go to trade school.
And it isnt that I dont agree with any of that, but what isn't discussed is the fact at some point, and probably already, these numbers are causing some amount of people to pursue paths that are likely not "optimal" for our economy.
People who want to be doctors or lawyers or engineers (and should be those) are paying more to do so, or will switch to other careers. What happens when these people go "blue collar?" What happens to the people there?
There is a lot more going on then simply some private school arts brat being 100k in debt, and it can't be good.
And what will likely happen is a bubble will be created somewhere else, and a lot more pain just rolls from one sector to the next.
And it isnt that I dont agree with any of that, but what isn't discussed is the fact at some point, and probably already, these numbers are causing some amount of people to pursue paths that are likely not "optimal" for our economy.
People who want to be doctors or lawyers or engineers (and should be those) are paying more to do so, or will switch to other careers. What happens when these people go "blue collar?" What happens to the people there?
There is a lot more going on then simply some private school arts brat being 100k in debt, and it can't be good.
And what will likely happen is a bubble will be created somewhere else, and a lot more pain just rolls from one sector to the next.
This post was edited on 2/3/16 at 9:04 pm
Posted on 2/3/16 at 9:03 pm to danilo
quote:
Nationwide bro. Do u even New York Times?
i just slapped your attack from authority with the hand of an angry god, sir
and, again
states could not afford to continue to fund higher ed at that rate. it would literally bankrupt many states
quote:
Nationally, state and local spending per college student, adjusted for inflation, reached a 25-year low this year,
states spent way too much per student 25 years ago and it was not sustainable
the problem is that supply (students) has increased since then (Because our system is fricking retarded and a siphon for banks to gouge those students) so an unsustainable market became even more unsustainable (because that demand came with government-backed student loans) and a bubble was created
cheap, available credit + demand for an artificially-valued asset = bubbles
we're in one
Posted on 2/3/16 at 9:04 pm to danilo
quote:Why do you think more people are going to college at a much higher rate than population growth? Colleges and Universities have literally every reason to raise admission rates for the simple reason that the money is there an available and necessary to employ professors requiring double what they did 10 years ago.
In the last decade, even as enrollment at state colleges and universities has grown, some states have cut spending for higher education and many others have not allocated enough money to keep pace with the growing student body.
quote:An article written 4 years ago when states were fighting their way out of a recession. NO WAY!!!!
Nationally, state and local spending per college student, adjusted for inflation, reached a 25-year low this year
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