Why College Is So Expensive

In this post, I summarize the PhD economist Preston Cooper's article "Why College Is Too Expensive — And How Competition Can Fix It." He argues that college's don't have to compete with each other because it's hard to start new colleges, they often have local monopolies, and prices are opaque. He also argues that federal aid and credential inflation enable their prices to rise faster than they otherwise would have. He concludes with concrete policy recommendations. I also include some recommendations for prospective students.