Why Do Tuition Prices Increase So Rapidly?

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In this day and age, the increasing cost of secondary education causes concern to many. In fact, tuition prices are increasing at a faster rate than housing prices, consumer prices and average hourly wages! It is becoming increasingly difficult for the average American to afford to go college. So why are tuition prices increasing so rapidly? This paper’s goal is to set up a demand and supply structure with which to analyze the various forces could potentially be driving up the price of a college education and causing it to rise above the Consumer Price Index. I will begin by defining long run demand and supply for the secondary education “market” and then this paper will address economy-wide factors and summarize the reports of Robert Archibald
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