NonTradLawHopeful wrote:SemperLegal wrote:NonTradLawHopeful wrote:3-5% isn't much more than inflation. Schools cost a lot of money to operate and continually upgrade facilities. It isn't just law school, most post-secondary schools increase at least the rate of inflation.
In what universe is inflation nearly 5% and post secondary schools are baselines for institutional sustainability?
I said not much more than....inflation in a slow economy is 1-2%, and around 3.5% in a good economy.
Although the raw percentage of tuition increases isn't much higher than a year of inflation, It ends up being significant when tuition is steadily rising 3-5% a year during a period of slow economic growth, such as the last 7-8 years.