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Fun
Transcript
00:00Today's average cost of a four-year public university is more than 30 times what it was in
00:051969. Millennials have an average of more than $37,000 in student loan debt. Why has college
00:12gotten so expensive? Firstly, supply and demand. In 1970, only about a quarter of 18 to 24-year-olds
00:19were enrolled in post-secondary education. By 2015, that number jumped to 40%. Over the last
00:2640 years, having an undergraduate degree went from being considered an option to a necessity,
00:31and the more people want something, the more the people selling it can charge. Plus, colleges have
00:37no incentive to control costs because they know the federal government and other loan agencies
00:41will keep running the cash. And finally, administration costs have ballooned as much
00:47as 60% in the last 25 years. Despite the costs, a four-year degree is still a good financial
00:53investment for most students. But that may change if costs keep rising.
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