College has become overpriced

 James G. Martin:

Did You Know? College Closures Are On the Rise

Falling demand and soaring costs are creating an unsustainable higher-ed economy.

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 The natural question following this realization is, “Why are more colleges closing down now?” The answer consists of two key factors that explain the matter: Like two arrows, one diverging downward and one upward, the demand for college is decreasing, and the cost of college is increasing. As the arrows grow farther apart, more colleges close down.

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The two are related.  The cost of some colleges is so high that the students go deeply into debt and it becomes like a long-term mortgage with little chance of paying it off in a reasonable amount of time.  One of the reasons it is so expensive is an increased number of administrators and increased salaries for professors and administrators.  When Elizabeth Warren is paid $400,00 a year for teaching two classes at Harvard it suggests that a lot of people on that faculty are overpaid.

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