The price of higher education has risen due to the rising cost of the high-skilled labor it employs and increased demand for high quality education. This essay predicts that higher education will respond with cost-cutting measures, such as the increasing use of non-tenure-track instructors, online teaching, and larger class sizes. However, these moves may erode quality, so universities and colleges must not overcorrect.

Amanda L. Griffith is an associate professor of economics at Wake Forest University.
EducationHigher Education