Expensive lessons: Charting the rise of college tuition fees

3/9/23 7:00PM

Collegiate grief

‍This week, private loan company SoFi filed a lawsuit against the Department of Education, attempting to stop the government-sanctioned student loan billing suspension that’s been benefiting the majority of borrowers for 36 months.

The filing comes as the conversation around student loans in the US amplifies, with Biden’s proposed forgiveness — which could see some 40 million former students have up to $20k of debt erased — hanging in the balance as the Supreme Court reviews a host of lawsuits against the motion.

‍The cost of education

‍College enrollment in the US has started to drop in recent years, falling some 4.1% in 2022, as would-be attendees question whether it’s still really worth it. The Bureau of Labor Statistics (BLS), which has been tracking the rising cost of college for the last 40 years, won’t relieve any prospective students of their financial pessimism either.

Indeed, the BLS estimates that college-goers are now forking out 1246% more than their predecessors were in 1980 — and that’s just on tuition fees. Textbooks, materials and other educational supplies have also soared 949% since then. Both are way ahead of overall inflation, which has climbed a relatively modest 285% over the same period.

Tom Jones

career high

5/18/26

A Nepali Sherpa just broke his own Everest ascent record amid busiest year for permits ever

When it comes to the world’s tallest mountain, it’s not so lonely at the top.

Jake Lahut

PAIN AT THE PUMP

4/29/26

Analyst: US could see $5 gas by Memorial Day, $6 per gallon on the table

Gas could hit $5 per gallon by Memorial Day, $6 by later in the summer: “Nothing’s impossible at this point.”

Gas station in front of the Gordie Howe International Bridge under construction.

Tom Jones4/29/26

The UAE’s OPEC exit will hit the group in the barrels

After just shy of 60 years in OPEC, its membership even predating its status as a nation-state, the United Arab Emirates yesterday announced its shocking departure from the oil production group, effective May 1, as the knock-on effects of the Iran war continue to play out across the Middle East and the energy landscape.

For context, the UAE produces the third-highest amount of oil in the group, per April data and OPEC’s latest set of annual statistics.

According to the cartel’s 2025 Annual Statistical Bulletin, the OPEC group was collectively exporting some 19 million barrels of crude oil a day last year, with the United Arab Emirates accounting for some 14% of that daily output.

UAExit means UAExit

The nation, whose energy minister told Reuters yesterday that the decision was taken “after a careful look at current and future policies related to level of production” and wasn’t made following discussions with any other country, made up a healthy share of the group’s total confirmed crude oil reserves, as well.

Of the 12 nations in the core group, which was founded by just five oil superpowers back in September 1960, only two (Iraq and Saudi Arabia) exported more barrels of crude oil daily, pumping out 3.36 million and 6.05 million barrels, respectively, each day to nations around the world.

For its part, the UAE said it will “continue its responsible role by gradually and thoughtfully increasing production, in line with demand and market conditions,” per the official state news agency. Clearly, the nation now wants a little more control of just how much oil it can pump around the world, with the UAE having to eat a large proportion of lost revenues due to its healthy abundance and OPEC restrictions.