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Comment by randogogogo | Hacker News Reader

"Charge infinity for college" is the best way I've heard this put. If there is no pressure on a school to control costs then nothing will control costs.

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When studies come out that the present value of the lifetime earnings boost from a college degree has dropped below the cost of tuition, the media will run a series of stories, the next year's matriculation rates will collapse, and schools will panic. What happens next, I don't know, but that is certainly one thing that will control costs... eventually.

This is a good point. I graduated college $50K in debt, and was in debt from age 18 - 30, but in the end going to the school I went to was worth it, compared to not going to that.

However, this does not make it just. Education should provide you with a huge economic surplus. That's the natural order of things. It's very unnatural to say "I educated you, and now I hope to collect 99% of your economic bonus, but you will still be 1% better off so it's a good deal for you". That's called slavery.

"It's very unnatural to say "I educated you, and now I hope to collect 99% of your economic bonus, but you will still be 1% better off so it's a good deal for you""

This seems to be a common attitude though, on the scale of one (developed) nation to another (developing) nation. That is, I'm thinking of the anger over "intellectual property theft".

You forgot step 2 where they graciously negotiate it down to everything you're ever going to earn.

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