I guess we'll see, but I suspect that they are exempt - they certainly seem to have been so far. I know that state colleges are bursting at the seams as kids and parents shun the high priced private colleges (and very rightfully so). And I would imagine Community Colleges are booming also.
So how will the high priced private colleges deal with declining enrollments? And I'm not really sure if they have that or not - I guess all I know for sure is that state colleges are very full.
I guess the only real economical choice a student and parent have in the short term is to move down from state to community colleges for at least the first two years. There are just a handful of reasonably priced private colleges that I know of. There should be a thriving bunch of them. But maybe it takes real work (and a healthy endowment) to keep costs down and only a handful of colleges have that. A problem for me is that if my kid prefers the large university, the affordable private choices are about nil. There are a few small colleges that hold costs down, but they are pretty boring places!
As you may be able to tell, this drives me crazy! To have my life savings evaporated in a few short college years exasperates me to no end.
So are colleges exempt from the law of supply and demand?
September 27th, 2009 at 04:02 pm
September 27th, 2009 at 04:51 pm 1254066709
What has basically happened over the years is ongoing competition for students between all the schools. If one builds a new physical fitness complex, the others need to. If one makes the whole campus WiFi accessible, everyone else has to. If one upgrades their cafeteria to have a carving station, gourmet salad bar and panini press, so do the rest of the schools in that area. The one-up-manship has gotten out of hand and greatly escalated costs. As a result, schools are far nicer than they were when I was a student in the 80s and offer all kinds of amenities that we never dreamed of having, but the fees are way higher. The school I attended was about $10,000 in 1986 and is now over $40,000.
September 27th, 2009 at 05:14 pm 1254068087
As for public universities, tuition just keeps going up and up too! My husband gets in-state tuition prices and it's still $10K+ per year just for tuition.
September 27th, 2009 at 08:26 pm 1254079602
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September 27th, 2009 at 08:40 pm 1254080417
And the dining rooms now serve organic, locally-sourced foods!
Sadly, I lost my desire to donate to my alma mater because it didn't feel right helping fund such a luxurious lifestyle for the students. I still give, but not as generously as before.
No wonder tuition costs continue to climb.
I feel for you, and hope you and your family get through the college years relatively unscathed.
September 27th, 2009 at 10:57 pm 1254088666
October 21st, 2009 at 04:01 am 1256094075
October 29th, 2009 at 12:51 am 1256777497
November 14th, 2009 at 12:32 am 1258158746
Jerry