By Arthur C. Brooks
Arthur C. BrooksPresidentAmerican Enterprise Institute
MUCH is being written about the preposterously high cost of college. The median inflation-adjusted household income fell by 7 percent between 2006 and 2011, while the average real tuition at public four-year colleges increased over that period by over 18 percent. Meanwhile, the average tuition for just one year at a four-year private university in 2011 was almost $33,000, according to the National Center for Education Statistics. College tuition has increased at twice the rate of health care costs over the past 25 years.
Ballooning student loan debt, an impending college bubble, and a return on the bachelor’s degree that is flat or falling: all these things scream out for entrepreneurial…