Word: tuition
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Dates: during 1990-1999
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...Wall Street ethos of the '80s was the other cause of drastic tuition increases. Scholars refer to it as the "Chivas Regal effect...
...came to equate price with quality. For universities, this meant that they could raise tuition, and the market--namely parents--would bear it. Parents believed that the high priced education they were purchasing would translate into greater financial success for their children...
University officials prefer to emphasize the role inflation--not market forces--plays in tuition increases...
...years a consortium of elite American universities including Harvard, MIT, Princeton and Yale exchanged data about their tuition rates, agreed never to grant aid solely on the basis of academic merit and met to negotiate how much need-based financial aid individual students would receive...
Keith Leffler, a University of Washington anti-trust economist who testified for the government, says that the "Overlap Arrangement" stifled competition and allowed the universities to raise their tuition without losing low-income talent that prestigious schools desire...