400% inflation since 1980?
The reason college costs have increased 500% (depending on your source) since 1980 is precisely because 18-year olds were willing to borrow the money, and the government was willing to enable them.
That 500% far exceeds the inflation rate during that time.
And some of that inflation is why we’ve seen increases in student loan debt in recent years. People are borrowing a bigger percentage of college costs than in years past. But the issue is whether it is worth it, to borrow so much for college?
We could discuss whether these loans are a good return on investment. For example, getting a degree in nursing or accounting, fields which lead directly to careers in the private sector, may show a payoff even after loan costs are considered. The relatively high rates of pay for certain careers could be considered, as to whether it makes sense or not to borrow to pay for such an education.
But if you get a degree in women’s studies, for example, what career path is open to you with such a degree? Are you really going to qualify for a job which pays enough to enable you to pay off the loans it took to get educated in women, in this example?