How much *should* public college cost?

[ucbalumnus]

@ccprofandmomof2

In terms of public education, I think it should somehow be pegged to the median income of the state, so that the cost of college never exceeds 25% of the median income, or something like that. I am just grabbing that 25% number out of thin air, and would love to see some economists come up with a number that makes sense. When the cost of a year of college is half of the median income, as it is for the UCs relative to CA’s median income, for example, it really makes that inaccessible for the middle class.

UCLA’s NPC at https://app.financialaid.ucla.edu/FASEstimator/Dependent.aspx says that a California resident family of 3 with median California income of $67,169 will see a net price of $15,548, or about 23% of income, after financial aid.

Of course, it could be different in some other states. For example, a Pennsylvania resident family with median Pennsylvania income of $56,961 (FAFSA EFC of $5,847) will see a net price of $29,671, or about 52% of income, at Penn State University Park, according to https://cce.ais.psu.edu/netprice-calculator/ .