In the August 24-25 edition of thethere was a fascinating interview with Richard Vedder, the gentleman who is considered America”s foremost expert on the economics of higher education. In the interview he succinctly illuminates several key factors that have contributed to the “real reason college costs so much”
Included in Mr. Vedders list of culprits are subsidies, student loans and the compensation of college officials. He also points to the fact that graduates who take government or non-profit jobs have a more lenient loan “pay back” schedule than do those graduates who take jobs in the private sector. ” “Somehow working for the private sector is bad and working for the public sector is good? I don”t
see on what basis one would make that conclusion”, Mr. Vedder says.” ” “If I had to make some judgement, I would do just the opposite.” ”
Reading this interview was eye-opening. I highly recommend it to all of our readers.
