Every University a Junkie: More Debt Slavery for Future Generations
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- HellaDelicious
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A college can only charge as much as students are willing and able to pay. In recent decades, though, federal (and some state) lawmakers have forked over ever-more money to student aid - enabling colleges to charge exorbitant prices.
Consider the per-pupil cost of tuition, fees, room and board, as tracked by the College Board. At private US four-year institutions, the "price" of college rose to an average of $30,367 for the 2006-07 school year - up 208 percent over the last two decades. At public four-year institutions, the rise was almost 216 percent."
College and the huge fees are just another method of getting young people in debt. This debt slavery for education is destroying our future.
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- College, Students, University, Debt, 4 more
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HellaDelicious
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Thanks great links. It is so true. It seems that even the people who are working to create solutions to this issue are not going deep enough. I hear about how interest should be lower or other little bandages.
Instead of spending millions of dollars subsidizing Archer Daniels Midlands to produce high fructose corn syrup to fatten and dull the minds of our children we should find ways to provide education so future generations don't need to go into debt for the rest of their lives. Other countries have found ways to do this, why is the US so behind? Greed.
I agree that some financial responsibility for students is important. There are many factors involved here; as has been noted elsewhere, but the bottom line is that this is a huge human resource that is being tied up hand and foot before even getting a chance to walk.
- 3 years ago
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HellaDelicious
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Hawkmang
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HellaDelicious, great post and excellent source! The sooner we as a nation recognize this problem and address it the better we will be.
Here's a link and quote from an article by Peter Schiff entitled "Why Not Let The Markets Set Prices?":
"In light of the staggering cost of college education today, it may seem unbelievable that my father in the early 1950s was able to finance his own education with a summer job waiting tables. Like most in his generation, eight weeks of work per year allowed him to graduate debt free. In contrast, the debt burden now heaped on today’s college graduates is so oppressive that the financial challenges are becoming a palpable psychological strain on an entire generation.The irony is that without easy access to student loans, which have been touted as a means to ease college affordability, tuitions never could have risen so high in the first place. Sadly, it is not students who have benefited, but the educational establishment that receives the proceeds. Colleges collect huge sums of money up front while students get saddled with staggering balances."
http://current.com/items/88921007_why_not_let_the_markets_set_pricesMr. Shiff also wrote about this issue in his 4/18/08 piece "The Collapse of America’s Service Economy":
"The same mathematics will come into play for our ridiculously expensive higher education system, which can not exist without a well lubricated loan infrastructure. Limit the ability of students to take on heavy loans, and college education becomes untouchable for anyone but the wealthiest Americans. If loans dry up, universities will be forced to slash their bureaucracies and substantially reduce tuitions. Ironically the silver lining here is that with low tuitions students will no longer need the loans that kept tuitions so high in the first place."
http://www.financialsense.com/fsu/editorials/schiff/2008/0418.html - 3 years ago
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Hawkmang
