Josh Mitchell

speaker

438 appearances 7 recordings 1 series first heard Jul 2017 last heard Feb 2022

Josh Mitchell’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · College Tuition Grows at Slowest Pace in Decades · 25 Jul 2017 podcast

So when the economy is good, people are less inclined to go to school. matched

When the economy is bad, matched

that's a good opportunity to go back to school if there's not many jobs out there. matched

And that's what we saw during the recession. matched

There was this big boom in college enrollment and higher education enrollment in general. matched

And now that enrollment has come down about more than 4% in terms of how many undergraduates are in school. matched

That's come down about 4% or so since 2010. matched

So you have fewer people out there going to school, which means fewer applicants coming into colleges. matched

This is also partly a demographic issue. matched

There are lower birth rates. matched

So that means that the pool of high school graduates is not growing at nearly the pace that it had been. matched

Just to throw some numbers out there, new high school graduates grew 18% between 2000 and 2010, but that number is only 2% in terms of growth. matched

how many new high school graduates we're seeing in the past year compared to 2010. matched

So this decade, the pool of high school graduates is growing at a much slower pace, which means the colleges themselves just are increasingly competing for what you could call a stagnant pool of potential students. matched

Right. matched

So if students are already borrowing close to the maximum or at the maximum in their undergraduate loans, that constrains how much colleges can charge. matched

Many students, perhaps most students, don't have access to private lenders if they don't have someone with a good credit score that they can co-sign. matched

on that loan with. matched

So for many students, your only option is borrowing from the federal government. matched

And if those loan limits haven't increased in a while, then basically colleges themselves are constrained with how much they can charge. matched

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