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A Problem of Fit - How the Complexity of College Pricing Hurts Students-and Universities (Hardcover)
Loot Price: R2,433
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A Problem of Fit - How the Complexity of College Pricing Hurts Students-and Universities (Hardcover)
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A critical examination of the complex system of college pricing-how
it works, how it fails, and how fixing it can help both students
and universities. How much does it cost to attend college in the
United States today? The answer is more complex than many realize.
College websites advertise a sticker price, but uncovering the
actual price-the one after incorporating financial aid-can be
difficult for students and families. This inherent uncertainty
leads some students to forgo applying to colleges that would be the
best fit for them, or even not attend college at all. The result is
that millions of promising young people may lose out on one of
society's greatest opportunities for social mobility. Colleges
suffer too because losing these prospective students can mean lower
enrollment and less socioeconomic diversity. If markets require
prices to function well, then the American higher-education
system-rife as it is with ambiguity in its pricing-amounts to a
market failure. In A Problem of Fit, economist Phillip B. Levine
explains why institutions charge the prices they do and discusses
the role of financial aid systems in facilitating-and
discouraging-access to college. Affordability issues are real, but
price transparency is also part of the problem. As Levine makes
clear, our conversations around affordability and free tuition miss
a larger truth: that the opacity of our current college-financing
systems is a primary driver of inequities in education and society.
In a clear-eyed assessment of educational access and aid in a
post-Covid economy, A Problem of Fit offers a trenchant new
argument for educational reforms that are well within reach.
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