Showing posts with label Education. Show all posts
Showing posts with label Education. Show all posts

Monday, September 13, 2010

The Reality of Academic Inflation

As the parent of two kids under five, I almost spit out my coffee when I saw this graph in the Economist last week:

(click to enlarge)

Median household income has grown by a factor of 6.5 in the past 40 years, but the cost of attending a state college has increased by a factor of 15 for in-state students and 24 for out-of-state students. The cost of attending a private college has increased by a factor of more than 13 (a year in the Ivy League will set you back $38,000, excluding bed and board).

Is virtual learning the designed solution to this situation?