Not What It Used To Be Written For The Economist

Higher education has undoubtedly undergone immense changes throughout history. These changes are addressed in the article “Not what it used to be; Higher education,” written for The Economist. The article begins by saying that American colleges are clearly still doing well, as “more than half of the top 100 universities, and eight of the top ten, are American” in international rankings. The main point of the article, though, is how drastically the costs and debts accompanying a college education have increased throughout history. The article states that “In 1962 one cent of every dollar spent in America went on higher education,” but by 2012 this number tripled. Other aspects of college have changed over time as well. Literacy dropped among college students between 1992 and 2012, but GPA’s have risen since the 1950’s. Unfortunately, with inflation adjustments, college graduates in 2012 earned no more than in 1979. The increases in technology over time

Inflation is the most evident cause for cost increases, but other factors play into it as well. Technology has extensively advanced, which is addressed in the article. This has caused both schools and students to spend more money on technological resources and raises student tuitions to cover the schools costs. Debt also results from this, as colleges will often purchase more technology than tuition covers. The need for a college education has affected tuition as well. As opposed to much of the past, most jobs today require at least a small amount of higher education, and the work field is increasingly competitive. This need for further education allows colleges to raise tuition costs, as most people have no choice but to pay the fees to have a career. Colleges are also spending more money trying to compete in rankings. Despite all this spending, the article states that “America has only the 15th-largest proportion of young people with a university