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Jon Kofas – US College Costs In 2030 And Its Significance For Society

Introduction

The cost of higher education has been rising steadily in the past four decades, essentially doubling in real terms from 1970 to 2010, and it is expected to skyrocket by 2030. This will not be limited to the US, but it is expected to be a global phenomenon. Moreover, the high cost of college education will coincide with a massive surplus of college graduates and very difficult economic conditions, unless the current neo-liberal model of development is replaced with a mixed economy that produces new wealth and is not parasitic as is finance capitalism resting on the state for constant support and periodic bailouts. If higher education is a mirror of society as well as the source for change and progress, is it time to consider new models that will best serve society and not just a very narrow segment linked to the corporate structure?

1. Where is the cost of education head and what are the causes of high cost?

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