If higher education (like dentistry) are craft services where the efficiencies we've seen in factory production over the last century are not easily applied, what can explain the rapid rise in costs of these boutique industries since the 1980s?
Hundreds of thousands of high school seniors will apply to college this year, in hopes of being accepted by their first choice. However, is the higher monetary cost of a more elite university worth the added sticker price?
I am not going to argue that a four-year college education isn't expensive. It is. I won't argue that its return on investment makes it worthwhile, although it surely does. I also cannot argue that increasing the number of administrators doesn't increase the cost of a higher education. It does.
The Department of Education raises legitimate concerns about sticker price. The American public needs to be better educated about what this means for them. Higher education leadership must be prepared to address consumer concerns.