The Tuition Bubble is a Lie, CNN edition
Mike Caulfield,
Tran|Script,
Jun 15, 2011
Two responses to the tuition bubble story, this from Mike Caulfield, and this from Eastern Michigan University. Caulfield argues that tuition is not a bubble, that because of discounting and government aid, the amount of tuition students actually pay is declining. Well maybe. But what this means is that unless they get some sort of grant or assistance, middle class students cannot pay current tuition rates, as evidenced by the fact that they are not paying these rates. An industry that prices itself to the point where its customers cannot afford the product without some sort of subsidy is almost the definition of a bubble, and when the subsidy ends - as it will - the bubble implodes.
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