Inflation is coming to colleges: Prepare to pay more
It’s a squeeze that comes at the worst possible time for higher education, as enrolment has declined by nearly a million students since the start of the COVID-19 pandemic. The last thing it needs is to increase its own prices.
“Families and their earnings haven’t fully recovered yet, especially as the student population we’re more focused on today tends to be first-generation, lower socio-economic status, more diverse,” Jewell said. On the other side of the ledger, “we’ve never dealt with this level of inflationary pressure and this kind of extremely competitive labour market.” As a result, according to experts and early evidence, the next consumer product likely to cost Americans more will be a college education.
Full report on The Hechinger Report site