Healthcare Administration M. Leadership M. Software Development B. Copley Health Systems Inc. Other Organization Name. Udall and Stewart L. AbilityOne Commission U. Access Board U. Air Force U.
Air Force Reserve Command U. Arctic Research Commission U. Army U. Army Corps of Engineers U. Botanic Garden U. Capitol Police U. Capitol Visitor Center U. Circuit Courts of Appeal U. Citizenship and Immigration Services U. Coast Guard U. Commission of Fine Arts U. Commission on International Religious Freedom U. Court of Appeals for Veterans Claims U.
Customs and Border Protection U. Department of the Treasury U. Fleet Forces Command U. House of Representatives U. Immigration and Customs Enforcement U. International Trade Commission U. Marine Corps U. Military Academy, West Point U. Mission to the United Nations U. Navy U. Helhoski encouraged students considering attending a certain school to look at the net-price calculator on the institution's website, which it's legally require to have.
Generally speaking, tuition covers "anything that's delivering the education aspect," Helhoski said. This usually includes: faculty salaries, institutional support, research, student services, campus maintenance and more.
While she happily writes about a range of topics, from pop culture to politics, she has a special interest in in-depth health coverage, especially COVID research, women's health and racial health disparities. IE 11 is not supported. For an optimal experience visit our site on another browser. Share this —. Follow today.
More Brands. In most industries, competition brings down the cost of products over time. Akers explores four potential explanations: students overestimate the return to a degree; colleges are not transparent about their true prices; too few institutions operate in each regional market; and there are significant barriers to entry for new educational providers. The decision to go to college is fundamentally a cost-benefit calculation. If the financial return to college is high enough, then students should theoretically be willing to pay high amounts for tuition, because they still come out ahead in the long run.
But few students are sitting down with Excel spreadsheets to calculate the return to college; instead, they rely on impressions of how much a college degree will earn them in the long run. Yet only some degrees are worth paying top dollar. Even if that is the case, a sufficiently competitive market for higher education should still bring down the price of college. Akers therefore identifies another problem: the true price of a college education is usually hidden. This makes comparison-shopping across a wide swath of institutions impossible.
Application fees and time constrain the number of colleges each student can apply to, so the number of colleges among which a student can compare prices may be as little as one.
Knowing that students will have few alternatives by the time they actually see what they will pay, colleges have every incentive to be stingy with financial aid. Another factor constraining choice is that most students have limited options for higher education. While there are thousands of accredited colleges nationwide, the typical student has far fewer options.
Most students attend a college in their home state, thanks to a combination of steep discounts for state residents, familiarity with local schools, and a desire to save money by living at home.
With few competitors, colleges face less competitive pressure to provide price discounts or improve the quality of education. High prices and few institutions should provide ample opportunity for alternative providers of education to enter the market and lower prices through competition. However, most of these alternative providers will find it difficult to access federal financial aid, which means that the playing field is not level between traditional schools and new ones.
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