An article published in the Washington Post earlier this week by Robert Gebelhoff made some interesting and valid points on the worsening student default situation. Nevertheless, Gebelhoff failed to recognize one of the fundamental drivers of this mounting student debt problem.
Tuition, in real terms, has more than tripled in recent decades. The average rate of tuition for an undergraduate student has risen from $3,521 in 1980 to $11,865 as recently as 2015.
