Adam Mission is the pseudonym of someone who works in the admissions office of a well-known public research university.
“As you might expect, her father and I are concerned with the financials,” she said, “We’ve been diligent about saving through a 529 plan. Despite this, our shortfall would still be in the $70,000 range.”
The applicant’s parents sat across from my desk in the admission department. They seemed sheepish that they didn’t have hundreds of thousands of dollars sitting in their account. I could tell from the moment they walked into my office that this was their first child going to college.
“Frankly, we’re old school,” the mother continued, “Besides our mortgage, we’ve never had any debt, lived within our means and saved for the future. We hope for our child to graduate with as little debt as possible.”
She paused, and finally straightened as if to brace for what she was going to say next.
“We’re both from humble, hardworking Midwest households and we’ve earned every penny we have. We’re even prepared to move here if it means getting our daughter in-state tuition.”
Her story wasn’t unusual. In fact, the high cost of college tuition is one of the most common things I deal with as an admissions counselor for a well-known public research university. College tuition is outrageously high; and it’s only getting higher every year. When my father went to college, tuition at my current institution was around $300 a year. Even accounting for inflation, the average American family a generation ago could afford going to college without breaking the bank. Now tuition at my university is 30 times as expensive. Students and their families pay for college by taking on second mortgages, working four jobs, or moving to another state. Most often they take on crippling debt that will haunt them the rest of their life.
There are a lot of theories about why the cost of tuition is so high and just as many about how to get those costs under control. Politicians, unsurprisingly, promise increased federal funding to make it “free.” Academics criticize the increased expenditure on massive collegiate athletic programs. All sorts of people disapprove of uncontrolled spending on expansive building projects and the all-inclusive resort amenities that students now seem to expect at college. What really costs money, though, is salaries. As with most businesses, the highest expenditure of a university is payroll—and that cost has been skyrocketing. The reason is the growth in administrative jobs. In the past 25 years, the number of non-academic administrative employees has doubled nationwide, growing at more than double the rate of increase in the number of students.