side effects of Boomer economic policies and their ignorance regarding the changes they caused

learning is just a sidehustle to the sports franchise they run?

Same reason everything in the US is expensive: we have largely unregulated, runaway capitalism which pervades every facet of life. Everything from housing to academia to health care is for profit – not only profit, but for obscene year-over-year increases in profit. Those at the top regularly make money hand over fist even selling basic necessities, and if they don’t continue taking more and more, they’re seen as failures and replaced by one who will.

The cherry on top is that, for the most parts, the citizens no longer have any real power to change any of it.

Around the same time that health care becomes affordable in the US (major hypothetical, of course), it probably means a wind change has occurred such that university costs would also be coming down. But it would be a systematic change.

Corporate greed.

This is a private school so they don’t get much in the way of direct government funding. State-funded schools are considerably cheaper. I went to Wright State University in Ohio. Right now it’s about $13k/yr in tuition. This is still rather expensive on a global scale.

Why do private schools charge that much? Because people (like you) will pay that much. What about the University of Chicago makes it so that you are willing pay for it? What do you or your son hope to get out of it that a school in your home country (I’m assuming Canada) can’t give him? To compare to Wright State, even for out-of-country students the tuition is less than half of Chicago’s tuition. Is the benefit of going to Chicago worth that much more? If it is, then that is exactly what you’re paying for.

Because there’s nothing more American than getting ripped off.

There’s probably more at play, but the govt is willing to back companies offering loans to cover higher and higher tuition costs, so said companies haven’t got to worry if the loans default or don’t return the full amount - it’s about setting an exorbitant “graduate tax” to keep a permanent stream of guaranteed income for as long as possible.

Higher loans means more repayments, and more money for universities, so they both raise tuition higher and higher to meet the limits of students. as long as banks or govt don’t ever ask for their loans back (which they won’t because it’ll collapse the whole system and possibly the economy with it) the price can inflate at much at it likes.

the same is at play in the UK, only we have “tuition caps” that every university course sets their prices to because there is simply no benefit to charging less, and no downside to charging more. Everyone can get a loan, no one is denied, and the government backs this process because it is essentially being held at ransom.

I know I turned it into a rant about UK education but the financial systems feel very similar. There’s simply too much money held up in a make believe cycle of IOUs that would immediately collapse a huge chunk of the American system if anyone willingly let it pop.

The only problem with this is that eventually it might just pop on its own, and no one will be ready.

Because people are still paying it. That’s how you set the price of things. If people are paying 70k why would you sell it cheaper?

because america is the land of profit over humans. its just that simple.

its ingrained in the entire country. if some rando at the top isnt profiting, it must be killed. its the problem with healthcare. its the problem with government (congress). its the reason we are entrenched in a 2-party hellscape.

Because Reagan defunded public secondary education. And then instead of fixing that in the late 90s/early 00s, they made school loans non expungable and federally guaranteed, so schools didn’t need to keep their prices low and competitive anymore.

It always goes back to Reagan…

Administrative bloat. At my university, if my lab lands a grant, 60% goes to the university and only 40% is used for actual research. There’s a long chain of people whose jobs are to answer emails, and they all need to be paid.

If we can reason and communicate effectively then we’re much harder to exploit.

Education is priced above the balance of supply and demand because in wider scope it’s more profitable to deny access.

Denial of access to education is a very good way to leave many people with violence as their only practical means of change.

US universities engage in price discrimination between different students.

For public schools, there is different tuition between in state and out of state students. There are also some state government programs based on merit and financial considerations.

For well endowed private schools, the universities will provide scholarships based on a variety of reasons. For students from rich families, those families are generally paying full price and there generally is the implication of additional donations.

Tuition is also higher for international students.

The politicians of the US took massive payouts from the banking industry in exchange for commodifying anything and everything that people need. Back in 2008 2005, Biden himself took a $250,000 bribe from MBNA to make it illegal to escape student loans even in bankruptcy.