When I went to Z2a state college in the 80's, the state and federal governments supported 70% of the cost through higher education funding. I graduated from my undergrad with 0 debt.
Now, students are paying at least that big a portion, if not more.
Rising tuition has nothing to do with public universities trying to make a profit or building luxury dorms. It has to do with society collectively deciding that an educated populace isn't worth paying for.
Banks have capitalized on this, too. They make billions off of federal and private loans. They want 18-yr-olds to go into crippling debt.
Except the government is the reason for the increase in tuition. Most (if not all) student loans are federally guaranteed. They may be financed by individual banks, but most are guaranteed by the government. So when a student takes out a loan, both the bank and the university are off the hook, because ultimately both the bank and the university get paid at the time the student is enrolled. This, at the end, the student owes the government money, and the bank and school have both moved on to the next sucker.
Thus, there is literally no risk to either the school or intermediary bank, and thus no incentive to keep tuition lower. It’s an artificially inflated market (which is artificially inflated by the government), and the student is the victim.
Old_Blue_Haired_Lady on December 5th, 2020 at 20:52 UTC »
When I went to Z2a state college in the 80's, the state and federal governments supported 70% of the cost through higher education funding. I graduated from my undergrad with 0 debt.
Now, students are paying at least that big a portion, if not more.
Rising tuition has nothing to do with public universities trying to make a profit or building luxury dorms. It has to do with society collectively deciding that an educated populace isn't worth paying for.
Banks have capitalized on this, too. They make billions off of federal and private loans. They want 18-yr-olds to go into crippling debt.
It's disgusting.
Propagandave on December 5th, 2020 at 22:13 UTC »
If you've ever had a boomer give you advice on finding a job, you know they aren't qualified to govern.
RJSuperfreaky on December 6th, 2020 at 00:25 UTC »
Except the government is the reason for the increase in tuition. Most (if not all) student loans are federally guaranteed. They may be financed by individual banks, but most are guaranteed by the government. So when a student takes out a loan, both the bank and the university are off the hook, because ultimately both the bank and the university get paid at the time the student is enrolled. This, at the end, the student owes the government money, and the bank and school have both moved on to the next sucker.
Thus, there is literally no risk to either the school or intermediary bank, and thus no incentive to keep tuition lower. It’s an artificially inflated market (which is artificially inflated by the government), and the student is the victim.