Tuition Rates Over Time

[ShockBand]

This is supposedly tuition data from the U of Illinois, along with minimum wage and the number of full days of work it would take to pay tuition. Not sure if the tuition is semester or full year. I do remember my first fee bill at WSU in the fall of 1986 was $495 for 17 credit hours.

YEAR          TUITION  M. WAGE  DAYS WORK
1966-1967      $170     1.25     17
1967-1968      $170     1.40     15
1968-1969      $170     1.60     13
1969-1970      $246     1.60     19
1970-1971      $321     1.60     25
1971-1972      $396     1.60     31
1972-1973      $496     1.60     39
1973-1974      $496     1.60     39
1974-1975      $496     2.00     31
1975-1976      $496     2.10     30
1976-1977      $496     2.30     27
1977-1978      $496     2.30     27
1978-1979      $586     2.65     28
1979-1980      $634     2.90     27
1980-1981      $682     3.10     28
1981-1982      $748     3.35     28
1982-1983      $822     3.35     31
1983-1984     $1104     3.35     41
1984-1985     $1248     3.35     47
1985-1986     $1314     3.35     49
1986-1987     $1406     3.35     52
1987-1988     $1470     3.35     55
1988-1989     $2070     3.35     77
1989-1990     $2130     3.35     79
1990-1991     $2130     3.80     70
1991-1992     $2236     4.25     66
1992-1993     $2486     4.25     73
1993-1994     $2486     4.25     73
1994-1995     $2760     4.25     81
1995-1996     $3000     4.25     88
1996-1997     $3150     4.25     93
1997-1998     $3308     4.75     87
1998-1999     $3408     5.15     83
1999-2000     $3546     5.15     86
2000-2001     $3724     5.15     90
2001-2002     $4410     5.15    107
2002-2003     $5302     5.15    129
2003-2004     $5568     5.15    135
2004-2005     $6460     5.15    157
2005-2006     $7042     5.15    171
2006-2007     $7708     5.15    187
2007-2008     $8440     5.15    205
2008-2009     $9242     5.85    197
2009-2010     $9484     6.55    181
2010-2011    $10386     7.25    179

[Kel Varnsen]

Feel like there's a relationship between the federal government lending money and tuition rising, but that has to be coincidental, right?

[RoyalShock]

Feel like there's a relationship between the federal government lending money and tuition rising, but that has to be coincidental, right?

Of course. Government involvement always makes things cost less.

Tuition and healthcare costs.

[wsushox1]

Wait explain government lending and tuition rates and how they are connected. I'm lost.

[Kel Varnsen]

Wait explain government lending and tuition rates and how they are connected. I'm lost.

http://m.townhall.com/tipsheet/aaronbandler/2015/07/15/report-federal-student-loans-increase-cost-of-tuition-but-doesnt-raise-enrollment-n2025794

Sorry, posting on mobile so I can't link it.

[Play Angry]

Schools have an unlimited source of funding vis a vis guaranteed access to federal loans with no incentive to restrain costs.

Fed gov policy was an enabler (yet many conservative lawmakers and judges continue to block attempts to tie funding to performance, which is mind blowing given their mad rush to make student loans all but impossible to discharge in bankruptcy) but the schools themselves are bloated beasts with absurd endowments and deserve the lion's share of the blame. The government gave them a loophole and they have ruthlessly exploited it as if driven by shareholder interests rather than their actual mission statements (yes I know some p.o.s. schools are for-profit but the vast majority are not).

There is a good thread on here from ~2 years ago with a lot of data and discussion.

[SHOCKvalue]

Wait explain government lending and tuition rates and how they are connected. I'm lost.

It is a very basic economic relationship between access to or availability of money, and inflation.

[shocka khan]

Feel like there's a relationship between the federal government lending money and tuition rising, but that has to be coincidental, right?

In Texas, I would say it was tuition deregulation:

http://www.chron.com/local/education/campus-chronicles/article/Tuition-on-the-rise-at-Texas-universities-6002358.php

[jocoshock]

Not saying government has not played a part but history of Sallie Mae against the tuition time line is interesting starting in 1983-1984. Share owner value certainly didn't discourage the rise..

Government policies encouraging privatization no doubt was a major factor..

1984: Sallie Mae shares publicly traded on the New York Stock Exchange under ticker symbol SLM.

1992: Sallie Mae creates The Sallie Mae Fund. Over the next two decades, the Fund will contribute more than $125 million to increase access to higher education and to support local communities.

1994: William D. Ford Direct Student Loan Program enacted into law. Clinton Administration announces that Sallie Mae should restructure itself from a GSE to a private company.

1997: Shareholders approve privatization of Sallie Mae.

2004: Sallie Mae is fully privatized, four years ahead of schedule.

Source: Wikipedia

[pinstripers]

I understand meals and dorm at WSU run 13k?

[jocoshock]

I understand meals and dorm at WSU run 13k?

Shocker Hall was $950 per month for the cheapest meal plan last fall. It was definetly approaching $10K.

[jocoshock]

nm