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Cost Of College: A Case Study

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There is no doubt that the cost of attending college has rapidly increasing in the last few decades. The average cost of attending a top college is approaching a quarter of a million dollars. Phil Izzo (2014) analyze data of college graduate class of 2014 and found that the average 2014 graduate with student loans will have to pay back around $33,000. Even after taking inflation into account, that is nearly double the amount from twenty years ago. As the price tag rise and average salaries downgrade, forty millions Americans with student loan will most likely not be able to repay their debt. Moreover, the cost of university per undergraduate has aroused by almost five times since 1983; while on the other hand, graduate salaries have been level
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