On the other side ofthe ledger, the real cost of higher education has risen 2.6 times since 1980 (NationalCenter for Education Statistics, 2011a) and a majority of students (67 percent) musttake on debt to finance college (Bureau of Labor Statistics, 2010a; National Center forEducation Statistics, 2011b).
It should be noted that there is a deeper cause behind this. I am not fully informed on it, but from my limited knowledge, the increase in cost of higher ed. is mainly due to increased administrative costs, which is a product of hiring an unnecessary amount of administrators, which in my experience turns even the slightest problem in payments, enrollment, or signing forms into a Kafka-esque struggle of going through four administrators just to find the right one. The reason so many administrators have been hired is largely due to an immigration reform passed in the early 90s. In the name of globalism, universities opened their doors to students, particularly from east asia, in order to increase supply and lower costs of faculty assistants and TAs. Universities gave away more degrees then ever, and the rest of the job market wasn't ready, and thus Universities brought many students back as admins. This idea comes from Mathematician Eric Weinstein.