Is Education Killing the American Dream?

The Educational Triage Podcast

Is Education Killing the American Dream?

There are so many thoughts about this topic. Defining the American Dream became the tipping point. How does the current system of academics help/deny the dream to those involved both in the instructional and learning sectors? This week, we explored, but we found more hills on top of the mountain in this adventure.

What are your thoughts? Tell us! [e-mail]

1. What is the American Dream? https://en.wikipedia.org/wiki/American_Dream

2. What is the purpose of secondary education? The purpose of secondary education is to provide students with a well-rounded education that prepares them for higher education or the workforce. It aims to develop their intellectual, social, and emotional skills, while also fostering critical thinking, creativity, and independence. https://en.wikipedia.org/wiki/Secondary_education

3. How honest is the roll out of secondary education today? Is it fulfilling its mission?

4. Student Debt – What is the history of? history of student debt - Market Watch

5. When did College Tuition Become Unaffordable?
6. College Cost HIstory

To calculate how much more college costs for the average student in public and private schools than it did in 1978, adjusted for inflation, we need to consider the percentage increase in tuition and fees from 1978 to 2020 and then adjust for inflation.

According to the College Board, the average published tuition, and fees (in constant 2020 dollars) for the 1978-1979 academic year were approximately:

Public four-year institutions: $3,190

Private nonprofit four-year institutions: $12,680

For the 2019-2020 academic year:

Public four-year institutions: $10,560

Private nonprofit four-year institutions: $37,650

Using these figures, we can calculate the percentage increase in tuition and fees for each sector and then adjust for inflation. Let us use the Consumer Price Index (CPI) to adjust for inflation.

First, we will calculate the percentage increase:

For public four-year institutions: Percentage increase=10,560−3,1903,190×100≈231.97%Percentage increase=3,19010,560−3,190 ×100≈231.97%

For private nonprofit four-year institutions: Percentage increase=37,650−12,68012,680×100≈196.54%Percentage increase=12,68037,650−12,680 ×100≈196.54%

Now, we will adjust these percentages for inflation using the CPI.

Let us assume the CPI in 1978 was 65.2 and in 2020 was 258.811 (these are approximate values).

Adjusted increase for public four-year institutions: Adjusted increase=231.97%×258.81165.2≈920.26%Adjusted increase=231.97%×65.2258.811 ≈920.26%

Adjusted increase for private nonprofit four-year institutions: Adjusted increase=196.54%×258.81165.2≈783.33%Adjusted increase=196.54%×65.2258.811 ≈783.33%

Now, we will apply these adjusted increases to the 1978 tuition costs to find out how much more college costs for the average student in public and private schools compared to 1978, adjusted for inflation.

For public four-year institutions: Adjusted cost=3,190× (1+9.2026) ≈$29,355Adjusted cost=3,190× (1+9.2026) ≈$29,355

For private nonprofit four-year institutions: Adjusted cost=12,680× (1+7.8333) ≈$111,062Adjusted cost=12,680× (1+7.8333) ≈$111,062

So, adjusted for inflation, the average college costs for the average student in public four-year institutions increased by approximately $26,165, and for private nonprofit four-year institutions, it increased by approximately $98,382 compared to 1978.

6. Are students earning enough to pay off their debt? or are we leading the lambs to slaughter in secondary education? https://www.nytimes.com/2021/03/25/learning/what-students-are-saying-about-canceling-student-debt-the-secrets-to-happiness-and-reaching-summits.html

https://www.npr.org/sections/ed/2018/04/25/605092520/high-paying-trade-jobs-sit-empty-while-high-school-grads-line-up-for-university

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