I would like to officially announce that I have given up any hope that anyone is going to inject a modicum of rationality into the discussion on the rising costs of college education.

What drove me to this was an article in, of all places, the Wall Street Journal, lamenting the high cost of attending public universities. One (but only one) of the arguments against the “college costs are going to bankrupt us all” point-of-view that has been driving the sharp increase in subsidies for students is that the $50,000 a year tuition scare story that journalists love to trot out applies only to a wealthy cohort of students attending the very best private colleges. But the Journal warns us that going to a public university does not exempt a student from the potentially ruinous costs of undergraduate education.

Exhibit A in the article is Akaysha Joiner, a valedictorian of her high school class and a newly enrolled student at her state’s flagship school, the University of Colorado at Boulder. However, the tuition and room and board list at $23,000, which comes as a shock to her parents, both social workers. The father laments that when he attended the same school nearly thirty years ago it was much more affordable for his parents—who held similar middle-class jobs—and he isn’t sure where he is going to get that kind of money.

The story might seem a little sad until the author reveals that she received some significant financial aid—in fact, a total of over $10,000, plus a work-study job and a $5,000 loan. The various grants, in fact, more than cover the entire year’s tuition.

Forgive me if I’m having trouble getting my dander up on this one but an above-average student who receives scholarships that more than cover her tuition does not merit indignation or a “we need to fix this” response. There seems to be an easy solution to her father’s financial complaints that doesn’t involve the government coming up with more money for the Joiners, such as her living at home and attending the local branch of the U of Colorado for two years, living in less luxurious digs off campus, or the student and her father splitting loans that would total about $50,000 after four years. Having the government—at any level—cough up money so that she doesn’t have to resort to this seems like the very worst use of public funds that I can conceive of.

It’s time we abandon the tired trope of trotting out a college student and lamenting how much debt they could potentially face and had a conversation about who benefits the most from a college education and who should pay for it. Hint: In both cases it is the student.

Featured Publications