By Noa Maltzman
Since 1963, (click here) college tuition (tuition, fees room and board) has increased approximately 1,640 percent. College tuition has risen faster than the rate of inflation and faster than health care costs. According to Gordon Wadsworth, author of The College Trap, the cost of higher education has increased over 2 ½ times the inflation rate. Not only is tuition rising but the cost of running a university is also rising....
There are other sources that concur with Noa Maltzman (click here). Part of the problem in rising tuition differs from private and public colleges. But, the student loan program is a life line for American who can no longer afford a college education regardless of assets or income.
25 August 2022
By Lystra Small-Clouden
This case should be litigated, but, no one ever wants to sue their Alma Mater. There are many times that an institute exceeds what is reasonable as an annual budget, because, it will be passed on to the students in the way of fees. If anyone wants to define the issue look into the fees charged to students and an entire reality will open up that most Americans don't know about. The fee structure is where any corruption lies in the way of constructing buildings or so called improvements to the milieu of the college experience. Then in public institutions there are bonds that translate into construction contracts for good or for bad. It would be interesting to know the amount of concrete, brick, steel, and marble used on college campuses as compared to the rest of the USA.
Yes, America, you are paying a contractor's salary and all the while the contractor is laughing about the people attending the university or college in order to make half or less of his/her take.
The USA is not alone in the escalating costs of college.
25 November 2021
By Rachel Hall
...The largest amount of debt amassed by a student in England (click here) is £189,700, according to official figures as research warns of the severe “psychological toll” that high levels of student debt is taking on graduates.
The Student Loan Company said the £189,700 figure was “an exceptional case” and was possibly accrued over loans for several courses, for instance because the person had undertaken postgraduate study or dropped out of multiple courses, according to a response to a Freedom of Information request.
However, when the FOI response was published on Reddit, it prompted an outpouring of comments from graduates citing student debts around the £100,000 mark, including those who had studied five-year medicine degrees, postgraduate courses or who had switched courses or institutions....
President Biden did the right thing in student debt forgiveness. It is what he can do. Student debt forgiveness improves the GDP of the country. Students can now plan to purchase homes and not fear of having a family. There is a lot of good energy that comes out of loan forgiveness. That increase in income monthly to students translate into a far better trajectory in the long term.
What Congress needs to do is evaluate the cost of education in the USA, find the abuses and prosecute the exploitation.
American students deserve a good education, but, they also deserve a good shot at life after they graduate. And it isn't right young people only focus on the lucrative jobs and/or professions in the USA, we need all of them. The sciences, the arts, math and physics. We need those that manage business well including those that can look at healthy financial balances. We need teachers, doctors, nurses and scientists in the labs finding and creating better lives for Americans. The thing about the jobs that have higher salaries, they aren't always the people that begin with that goal. Many times a student in liberal arts will find a unique path to entrepreneurship no one has thought of before.
Probably the best example of a person walking his or her own path to success is Steve Wozniak (click here). The inventor needs to be able to build the invention and can't if student debt has piled up.
Hi Reddit, I’m Steve Wozniak. (click here)
I will be participating in a Reddit AMA to answer any and all questions. I promise to answer all questions honestly, in totally open fashion, even when the answer is that I don’t have an answer to a specific question or that I don’t know enough to answer it.
I recently shot an interview with Reddit as part of their new series Formative, in which I talk about the early days of Apple. You can watch it here:...
I am confident people reading this can think of their own heroes in success stories, but, when did they make that leap into success and who was there to provide the path forward?
The problem with the sour grapes of student forgiveness is not the student, it is the cost of education.
Congress needs to be able to provide the American people with trajectories going forward so these problems don't exist so much as anticipated. I don't believe the Board of Directors/Trustees necessarily always have the best outcomes for students if they are not prudent to the cost of education in their institutions. I think if there was an in-depth analysis conducted of the cost of education and the actual nuts and bolts of how ridiculous it has become there would some very interesting outcomes. The future of the cost of education must be a directive of Congress to understand it and publish the results of that analysis to every parent of a student in the country. Make it mandatory reading at the first Parent-Teacher Organization meeting for parents of kindergarteners.
