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This book examines how tuition and student loans became an accepted part of college costs in the first half of the twentieth century. The author argues that college was largely free to nineteenth-century college students since local and religious communities, donors, and the state agreed to pay the tuition bill with the expectation that the students would serve society upon graduation. College education was essentially considered a public good. This arrangement ended after 1900. The increasing secularization and professionalization of college education as well as changes in the socio-economic composition of the student body—which included more and more students from well-off families—caused educators, college administrators, and donors to argue that students pursued a college degree for their own advancement and therefore should be made to pay for it. Students were expected to pay tuition themselves and to take out student loans in order to fund their education.
In The Economics of Higher Education in the United States, editors Thomas Adam and A. Burcu Bayram have assembled five essays, adapted from the fifty-second annual Walter Prescott Webb Memorial Lecture Series, that focus on the increasing cost of college—a topic that causes great anxiety among students, parents, faculty, administrators, legislators, and taxpayers. Essays focus on the funding of colleges, the funding of professional schools, and the provision of scholarships and student loans for undergraduate students to reveal the impact of money on the structure of institutions of higher education and the organization of colleges. The cost of higher education has risen dramatically as both states and the federal government have significantly lowered their contributions to offset that cost. With rising tuition and cost of living—on top of a growing student population—too many graduates find themselves in financial trouble after earning their undergraduate degree. Mounting student debt prevents an increasing number of young professionals from embarking on the very life for which their education was supposed to prepare them. How have we come from a political environment in which higher education was perceived as a public good, normally free to the user, to an environment in which higher education is seen as a privilege subject primarily to market forces? The Economics of Higher Education in the United States offers a desperately needed analysis in an attempt to understand and tackle this looming problem.
Includes section with title: Journal of the American Education Society, which was also issued separately.
Includes section with title: Journal of the American Education Society, which was also issued separately.