I seriously doubt more than 10% of MU students pay anywhere near sticker price. A good part time job will cover most living expenses
Actually I underestimated MU's costs ...
2016–17 undergraduate tuition and costsCost of Attendance $53,218
Tuition and Fees $38,470
Room and Board $11,440
Books and Supplies $1,008
Other Expenses $2,30071% of the undergraduates get financial aid so 29% pay the sticker price ($212k for four years), not less than 10%.
The 79% getting financial aid get an average of $25,701/year in aid meaning that still pay $27,517/yr in costs ($53,218 - $25,701). This is $110,168 for 4 years. (higher if costs go up)
The average amount of debt for a 2015 graduate was $37,048 (meaning that half had more). So that means Mom and Dad forked over $70k to $125k over four years to leave Junior with an average of $37k in debthttp://www.collegedata.com/cs/data/college/college_pg03_tmpl.jhtml?schoolId=1768
Do you say the same thing about car prices, home values etc., no, so why apply it here it makes no sense. There are loans for every type of major purchase. That is part of the whole system of supply, demand and financing.
So is the idea of luxury (ivy league), which demand a premium, even though they typically do not actually provide a better product (not true in terms of top schools, which do provide a better product).
College education prices follow supply and demand. That is why there is so much pressure on higher education institutions to keep price increases at less than 5% annually. If they do not, demand will fall.
Are you asking if home debt skewed home prices? Where you in a coma from 2006 to 2010, the financial crisis?
Your last line is correct, college tuition is priced like art or Jewelry. If it does not cost a ton of money, it must not be good. So we base our perception of what is a good school by how much it costs.