Two high school seniors with a B-plus average and similar extracurricular activities get accepted to the same four-year private college. Their household incomes are nearly identical.
One would pay $29,700 a year to attend the school, while the other would pay $51,000. What gives?
Mysteries like this have plagued American families for decades.
In a rare bipartisan move, legislators want to combat consultants’ use of “yield management” tactics, similar to how the airline and hotel industries fluctuate prices based on demand and the lack of information available to consumers.
“It’s horrifying to me that….it’s being used to decide whether kids can go to college or not,” Rep. Randy Fine (R-Fla.) said in a recent House subcommittee hearing. “They’re auctioning off slots to those who can pay the highest price.”…