
For years now, politicians and commentators have bemoaned the cost of higher education. The drumbeat is constant: college costs too much. But before we repeat that line again, we should ask a more basic question.
What does it even mean to say something “costs too much”?
Cost, by itself, tells us almost nothing. Cost only becomes meaningful when it is compared to value—and value is determined by whether something actually delivers what you need, not just what you want.



