Higher education is a critical mechanism for socioeconomic advancement among aspiring individuals and an important driver of economic mobility in our society. Moreover, a well-educated workforce is vital to our nation’s future economic growth. American companies and businesses require a highly skilled workforce to meet the demands of today’s increasingly competitive global economy. Higher education is provided through a complex public-private market, with many different individuals and institutions participating. While postsecondary education has become increasingly important, there have also been growing concerns about the cost and affordability of higher education. This book discusses the current state of higher education and the basic characteristics of the market for higher education. The impact of higher education on individual earnings and economic mobility is analyzed as is the cost and access to higher education, including the difference between posted and net tuition. Also considered is the financial aid system and other federal policies related to higher education.
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