Testimony by a Fellow at the Urban Institute before the Senate Committee on Health, Education, Labor and Pensions on January 6, 2018 indicates that college affordability depends on more than tuition prices and other expenses students incur and the resources available at the time of enrollment. The value of the education helps determine its affordability over the long run. No matter how low the price, a program or an institution that does not support students in completing an education that will serve them well, both in life opportunities and labor market success, will turn out to be unaffordable.
The testimony can be obtained at https://www.urban.org/sites/default/files/publication/96351/understanding_college_affordability_3.pdf.