<p>^I wonder why education and health are both going up so much in costs
I wonder… oh i wonder…</p>
<p>Tuition and fees at my alma mater were about $1600 when I attended (graduated in 1980). Today it’s $36,000. Back then, a full-pay student (which I was) could pay for college herself with a summer job, a part-time school year job and a modest student loan. Not today, that’s for sure.</p>
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As long as their is demand and someone has deep pockets that people can tap into, the predictable result is endless escalation of costs. If you have the luxury of turning down a thousand students who’re willing to fork out 50-60 grand, why wouldn’t you keep raising prices? </p>
<p>Similarly with medicine - if there is a ready market of people where much of the tab is picked up by a third party, it’s the same story.</p>
<p>UT-Austin was $4/credit hour in the early 80s. That’s not a typo. I remember being shocked to hear that tuition was going to TRIPLE to $12/hour sometime after I graduated.</p>