Was college cheaper back in the day because less people went?

I've heard some people say college used to be cheaper because fewer people went. If it's true that prices have risen as more people attend, wouldn't expanding access to higher education cause costs to go even higher? As a current junior in high school, this is something I'm really wondering about. Thanks in advance for any input on this.

The cost of college tuition has indeed risen dramatically over the decades, but the reason isn't primarily due to higher attendance rates, though it may appear to be a contributing factor. What's more influential are the changes in the funding model for higher education, particularly at public institutions.

In previous generations, a larger percentage of funding for public schools came from state governments, effectively subsidizing the cost of tuition. Over time, many states have systematically decreased funding for higher education. This has led colleges and universities to cover the gap by raising tuition and fees.

Another cost driver is the competition among colleges and universities to attract students. This often results in increased spending on non-academic items such as lavish dormitories, modern recreation centers, or even rock climbing walls, all designed to make the campus more appealing to prospective students.

Lastly, it's crucial to acknowledge the role of inflation. Over time, the cost of almost all goods and services tends to rise, and college tuition is not immune to this economic reality.

In conclusion, it's a complex issue with numerous contributing factors beyond merely the number of college attendees. The long-term cost issue in higher education is a problem that demands detailed policy attentiveness and resource allocation solutions.