The College Pricing Game

When President Biden canceled college debt last month, he left untouched the problem that created that debt: the soaring price of college.

In the 1980s, the list price of undergraduate education at a private four-year institution could hit $20,000 a year. At some of these schools in the last couple of years, it has topped $80,000.

Why has a college education become increasingly costly, and why has that become such a difficult problem to solve?

Guest: Ron Lieber, a personal finance columnist for The New York Times and author of “The Price You Pay for College.”

Background reading:

• Instead of making higher education free, the United States subsidizes it later through repayment plans and attempts at debt cancellation. The complexity is disrespectful • , Ron Lieber writes in his “Your Money” column. • Also from “Your Money”: Student loan borrowers don’t deserve “forgiveness,” they deserve an apology • .

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