The #OWS movement has become like the Type II Diabetes of a customer at an all you can eat buffet. It won’t go away, and it has become accepted as a problem of everyday life now. A portion of this longevity can be traced to its political expediency to a media-favored and embattled incumbent president. Part of this can be ascribed to the tenacity and organization of the protestors themselves.
So that begs another question. People have been out there since Sept 17. They’ve been doing this for long enough for the sanitation to get tenuous. They could be indoors sipping coffee instead. In another month it may not be very good for their health to sleep outdoors in a large group. It becomes possible that the most dedicated ones are legitimately angry and legitimately scared. The demands may have been only partially coherent, but at least some of these #OWSers actually have a point.
A common gripe that I can empathize with some myself involves the crushing burdens that come with student loans. The protestor pictured below is a prime example.
Did this guy plan poorly and screw up? Yes. Should he have chosen his school with some concern for his own economic well-being? Certainly. Are we certain he would be the cracker-jack science teacher he would claim to be? Of course not.
But does he make an interesting and valid point about our current system of higher education? Bingo. I’m obviously not exactly crazy about his decision to be a stalking-horse for a corrupt and imminently fireable President. Yet his predicament should raise questions about how our current higher education system is working out for us.
The cost of higher education is an embarrassment. The graph below shows that it went up over 400% in twenty-three years between 1982 and 2005.
To get the 439% increase, the tuition has to go up a hair less than 6 ¾% a year. Absolutely nothing that you put in a portfolio the day your baby is born will outperform the 284% increase in tuition that would occur by the time your child was 17 and sitting for his/her SATs. Wall Street really would have to be an Evil Empire to make that sort of magic happen.
The next component of the #OWSer conundrum involves what they get in return for their education. I’m willing to hang out on a limb here and guesstimate that university graduates in 2005 were not over 4 times as bright and inquisitive as the Class of 1982. That’s the required improvement, in graduate intellect that would be required to justify education costs, if we sent kids to college in order to be smarter.
We don’t send children to universities to learn. We send them there to get credentialed. This is their ladder out of a tedious, broke and frustrating life. And with tuition getting jacked through the roof at 6 ¾% a year, that ladder is being pulled up before our young people today ever get to climb. So what is done? We lend them the tuition.
This brings us to the part where the trap springs shut and seemingly dooms the typical #OWSER to an unearned punishment of Sisyphus. Student loans are handled differently than any other type of loan. It has lead to corruption, and made a GSL default about the worst thing that can show up on a credit report. Karl Denninger explains the final nail in the student loan coffin below.
Congress made student loan debt unable to be discharged in bankruptcy. Student loan debt now has a privileged position above all others, and it was both Republican and Democrat Congresses and Presidents that went along with it. This removed the risk of bad lending from the student loan lenders.
The basic laws of supply and demand responded to the fact that student loans became “fog a mirror” loans, just as did these loans in the housing bubble. Since there was no risk you could avoid the debt in bankruptcy there was no reason for a lender to care if your chosen path for both debt and vocation had any reasonable congruence with the ability to pay. With this influx of “students” that were preyed upon in this fashion, demand outstripped supply and price went to the moon, exactly as basic economics tell you that it will. The Universities actively engaged in these acts, as did the lenders and government. They screwed this individual and all others in this situation on purpose by taking steps they knew would radically inflate the cost of college and screwed with the law so students would get hosed when (not if) those loans went bad while they would be protected from making those intentionally-bad loans.
And with all of this money fire-hosed remorselessly into our education and research system, we should have enjoyed a new Florentine Renaissance. We should enjoy a level of scientific and technological enlightenment that Neal Stephenson wrote about in The Diamond Age. The Freakonomics Blog shows us what we won instead.
But it’s probably also important to consider how much money colleges have been putting into student amenities as well. When I visited my undergrad alma mater a few years ago, the chancellor pointed out that three buildings had gone up in the past decade or so that were each larger than any existing building on campus. There was a library, a convocation center (a multipurpose arena), and a huge student gym. The gym, he said, was a top priority because parents and prospective students increasingly think of themselves as customers,….
The $93,000 indebted protestor probably has his issues. We are all sinners who short of the glory of God. But he also has some gravamen for complaint. I can’t believe that is really just for the perceived price of admittance to the American Middle Class to go up 6 ¾% every year. If our society does this for ten more years, the next generation of protestors could hold something far more dangerous than a protest sign.


Steve Maley
Caleb Howe
Jeff Emanuel
Bravo RMJ re defining deviancy down - GC has said for years that students should picket tenured profs
Mike gamecock DeVine (Diary) Monday, October 17th at 1:15PM EDT (link)that cry croc tears over the po that can’t pay tuition but that never offer to cut their salaries to reduce tuition for the po. The vicious cycle of student loans going up followed by tuition, leaving the poor in the same place but with the universities like a union getting govt union dues.
Mike DeVine’s Examiner.com and Charlotte Observer columns
“One man with courage makes a majority.” – Andrew Jackson
Pretty much.
Repair_Man_Jack (Diary) Monday, October 17th at 1:21PM EDT (link)But everyone enjoys the shiny new gyms they build….
Mr. Obama is pretending that an economic “recovery” is underway when he knows damn well that the banking system is just blowing smoke up the shredded *** of what’s left of that economy – James Howard Kunstler
I actually did a column for the AJC on this issue when students were
Mike gamecock DeVine (Diary) Monday, October 17th at 9:55PM EDT (link)in the Georgia streets 2 years ago and actually did get several yutes to picket the profs!
Mike DeVine’s Examiner.com and Charlotte Observer columns
“One man with courage makes a majority.” – Andrew Jackson
Really?
Death_of_the_Donkey (Diary) Monday, October 17th at 1:23PM EDT (link)I mean at the state U I went to (and still interact with), most of my profs were making between 55-70k, which is hardly a lot of money for 8 years of education in today’s economic environment.
I think a better argument can be made to prevent state universities from competing with each other in the same state by all offering every major known to mankind no matter how small the demand.
Or Just Vary The Terms On Loans
Repair_Man_Jack (Diary) Monday, October 17th at 1:26PM EDT (link)dependent upon the wages typically earned and the employability of people with junk studies majors. Or, better yet, make the loan APR dependent upon student GPA in college. (If you belief employers are using the degree as a screening device to test work ethic).
Mr. Obama is pretending that an economic “recovery” is underway when he knows damn well that the banking system is just blowing smoke up the shredded *** of what’s left of that economy – James Howard Kunstler
Two different loans
Death_of_the_Donkey (Diary) Monday, October 17th at 1:31PM EDT (link)the problem loans aren’t the subsidized Stafford loans, but the non-dischargeable private ones. Stafford loan limits are fairly small, while the private lenders will give any amount. I wouldn’t base anything on GPA with the inflated grades of today’s colleges, but if you stopped guaranteeing private loans the private sector would likely screen better (by major and likelihood of payback).
I Guess I'm Trying To Think How You Could Differentiate...
Repair_Man_Jack (Diary) Monday, October 17th at 1:34PM EDT (link)I wouldn’t mind having a way to cut good students who lived in the library four years more slack than the campus drunk. You could be right on the GPA, sometimes profs are pressured to be easy graders to avoid getting dog-piled in student feedback surveys.
Mr. Obama is pretending that an economic “recovery” is underway when he knows damn well that the banking system is just blowing smoke up the shredded *** of what’s left of that economy – James Howard Kunstler
Terms of student loans
Kyle-MI (Diary) Monday, October 17th at 9:26PM EDT (link)The easiest way to determine rate of interest charged would be to tie it to the default rate as indexed by university and major. It would be hard to game the default rate.
This would also give prospective students feedback on which universities and majors to choose. For example, imagine a future student commenting, “I am not sure I want to major in women’s studies, look at the interest charged on their student loans.”
Of course, it wouldn’t deter someone who was really committed to a particular major, but it should help weed out some of the more apathetic ones.
A reasonable approach to higher education
gritsandall Tuesday, October 18th at 8:06PM EDT (link)is simply to allow students to take courses that support their desired profession with enough writing, reading and speaking courses to allow them to succeed. Those wishing to pursue political, social or arts courses could pay more. Most folks could obtain a degree in their desired fields in two years. The college graduates I have met in the last twenty years cannot discuss literature, art or clasical subjects knowledgeably. They just skate through everything they are not interested in. Colleges and universities ought to have, first class, business class and coach degrees. This would also end a lot of the brainwashing that kids get in colleges.
Actually surprised by this...
johnhandel Tuesday, October 18th at 6:50AM EDT (link)Those profs must have been some of the lowest paid profs in the country. My profs earned in the 50-85K range, but it was at a private university. No special benefits from the state that the public schools get.
Still, at the local COMMUNITY COLLEGE, the average pay for tenured prof was more than twice that. (There were tenure profs 10-15 years in clearing more than 200K/year…again, at the Community College.)
Never does a man portray his own character more vividly than in his manner of portraying another.–RICHTER.
It's the bureaucracy, not the professors, that need to be cut
benjaminz Monday, October 17th at 1:27PM EDT (link)There are way too many people working in administration, PR, advertising etc at universities today. They need to be cut lean on that end of things. Most departments are already stretched in terms of teaching staff, and are relying far too much on grad students to pick up the slack.
How about some accountability?
lookingforward Monday, October 17th at 1:21PM EDT (link)This is a free country, and private universities can set their tuition as high as they please (public universities need to be reigned in by their respective states). However, tax payers have no obligation to subsidize and guarantee loans for those insanely high tuition rates. The bottom line is that there is almost no job open to a Harvard grad with an english degree that will offer a salary reasonable to pay off $80k or more in student loans. Nevertheless, banks give said english major the $80k knowing full well that if they don’t pay, the American tax-payers will. Universities across the nation are sitting on billions in endowments and paying tenured faculty six figures to teach a class or two per semester while average students (and tax payers) get killed with insane tuition rates. It’s time to demand accountability, and draw the line on government backed student loans. Cut off the flow of unlimited money and the market will adjust.
Bingo!
Repair_Man_Jack (Diary) Monday, October 17th at 1:23PM EDT (link)It’s a cycle. We have to give the loan programs more money, or the deserving poor can’t afford school. Ten minutes after the POTUS signs the legislation opening the money spigots, the tuitions get jacked up again. 439% in 23 years would be fairly reasonable COLA for university staff – in The Weimar Republic!
Mr. Obama is pretending that an economic “recovery” is underway when he knows damn well that the banking system is just blowing smoke up the shredded *** of what’s left of that economy – James Howard Kunstler
The "deserving poor" can't afford school.
mbecker908 (Diary) Monday, October 17th at 2:06PM EDT (link)That’s a myth.
First of all, a very large percentage of economically deprived kids (not “students”) can’t do real college level academic work. They are completely unprepared and need serious remedial classes in math, reading and writing. Those kids have no business taking up a seat in a college or university that pretends to have high academic standards. They are an anchor on the rest of the student body because classes are dumbed down and grading curves are lowered so those kids can be passed. They are diversity and affirmative action placements and are destroying higher education.
Those kids should be in a community college to see if they can actually learn how to learn.
The engineering school I graduated from about a century ago had a graduation rate of slightly less than 20% of incoming freshmen. It’s about the same today. It’s also one of the top schools in the country and has been in or around the top 5 every year for the past fifty. That’s what college should be, demanding and unforgiving.
College Should Be A Less Necessary Credential
Repair_Man_Jack (Diary) Monday, October 17th at 2:18PM EDT (link)Back when dinosaurs roamed the Earth and I questioned my fundamental sanity for signing up for a course in ODE, there were still non-Blue Collar jobs people could do well in without a degree. This doesn’t exist anymore.
If one of my own children decided to be a career NCO in a military branch or developed into a 1st Rate Gearhead, I could imagine not pushing them towards college. Otherwise, America is turning into a country where there isn’t any other way to make it. That’s a reason the colleges are flooded with idiots who spend a year taking HS-Level math and composition courses before they can perform college-level work.
Mr. Obama is pretending that an economic “recovery” is underway when he knows damn well that the banking system is just blowing smoke up the shredded *** of what’s left of that economy – James Howard Kunstler
College is for suckers
oldbird77 Monday, October 17th at 2:48PM EDT (link)at least paying for it is. I’ve thought a lot about this b/c my wife and I are sitting on a mountain of student loan debt caused partly by the fact that we had to go back to school to get useful degrees (accounting & nursing) after we earned less useful undergrad degrees (history & philosophy).
A college degree is about what a high school diploma was a generation ago. You almost have to have it to get a desk job; and, the education level is probably comparable as well. But, if you can learn a trade (like my cousin the electrician) you come out ahead in the game. Instead of spending 4 (or 5 or 6) years paying out $25k a year, you are earning that much or more. So after 4 years, the guy who becomes an tradesman is up $200k in net earnings already. That difference only increases for time spent by the new graduate looking for that 1st post-college position. An increasingly difficult task of late. College isn’t for everyone. At least it shouldn’t be, and maybe it wouldn’t be if our high schools weren’t so bad.
The problem with that Jack is that even after
mbecker908 (Diary) Monday, October 17th at 2:48PM EDT (link)those courses, they can’t compete without what you and I would consider to be “college level” being dumbed down.
And, they typically get credit toward graduation for the remedial classes.
Oh, and for the few "poor" students who can actually measure up
mbecker908 (Diary) Monday, October 17th at 2:46PM EDT (link)on entrance exams and be admitted on merit can be given academic scholarships. Let these schools take away athletic scholarships from people who can run the 40 in 4.2 but can’t read and give them to people who will actually get and do something productive with their education.
Oh, and no scholarships for any program that has the word “studies” or “science” in it.
Oh, and an update on the college kid.
mbecker908 (Diary) Monday, October 17th at 3:01PM EDT (link)While I was typing the above, he called to say hi. And to let us know that he’s considering a summer paid-internship at KPMG. According to the Prof who forwarded him to KPMG, virtually every intern from his program has gotten a job offer.
Looks like his PhD will paid for now, assuming he wants one.
We probably need to rethink
Death_of_the_Donkey (Diary) Monday, October 17th at 1:27PM EDT (link)college in its entirety. I think some online based higher educational system (so that more students would get access to the best profs at a lower cost) would dramatically cut down on costs with little compromise to education. Now, it may cut down severely on alcohol sales in college towns and curtail college sports, but a huge expense of college for most people is the room and board that can be greatly reduced.
I'm Sure This Would Be Blocked By The Credentialling Mafia.
Repair_Man_Jack (Diary) Monday, October 17th at 1:38PM EDT (link)But this old Lew Rockwell article is good for a chuckle.
http://www.lewrockwell.com/north/north643.html
Mr. Obama is pretending that an economic “recovery” is underway when he knows damn well that the banking system is just blowing smoke up the shredded *** of what’s left of that economy – James Howard Kunstler
RMJ, this is especially true if you factor in
Melody Warbington (rwm52) (Diary) Monday, October 17th at 1:32PM EDT (link)what passes for education these days. As a parent of a college junior, I can tell you that most of what I’m seeing for our hard-earned dollars spent on tuition is liberal speak. I’m hoping and praying that the real world education he gets after getting his degree, i.e., working and rubbing elbows with others who actually work) will be the hard dose of reality needed to point him in the right direction. At least he’s matured enough to be willing to listen to us present the other side. Or at least he listens to his dad. Me, not so much as we push each other’s buttons a little too much, but I’m trying.
Anyway, my point is that it wouldn’t quite be so bad if we were getting more value for our dollars, but that’s just not the case.
The woman saith unto him, I know that Messiah cometh (he that is called Christ): when he is come, he will declare unto us all things. (John 4:25)
Hard America vs. Soft America.
Repair_Man_Jack (Diary) Monday, October 17th at 1:44PM EDT (link)Have him read it, if this effect concerns you.
http://www.amazon.com/Hard-America-Soft-Competition-Coddling/dp/1400053242
Mr. Obama is pretending that an economic “recovery” is underway when he knows damn well that the banking system is just blowing smoke up the shredded *** of what’s left of that economy – James Howard Kunstler
Thanks for the tip, RMJ.
Melody Warbington (rwm52) (Diary) Monday, October 17th at 2:38PM EDT (link)Ordering as we type.
And…….Roll Tide (on our way to another NC?)!
The woman saith unto him, I know that Messiah cometh (he that is called Christ): when he is come, he will declare unto us all things. (John 4:25)
I have a friend who is a professor in a demanding field
earlgrey (Diary) Monday, October 17th at 1:34PM EDT (link)and he told me how the department emphasizes helping to keep students in the program.
It used to be that they would “weed out” weaker students. I am sure many here have recollections of that in college courses.
It sort of bothers me that these demanding fields might be trying to keep people in the program, because it might not be the best area of study for some of those students, and thus, not the best profession for them.
Discrete F'ing Math!
Repair_Man_Jack (Diary) Monday, October 17th at 1:42PM EDT (link)That was a technical descriptor, not what they put in the course title where I got my degree.
It was supposed to be completely unfair and get rid of slackers. You knew that when you signed up. Some people deliberately made it their last pre-req so that they could send out resumes as 1st Semester Seniors that didn’t have what they anticipated their grades would be on their GPA.
But yes, Discrete F’ing Math did make my degree worth more than it would have been otherwise.
Mr. Obama is pretending that an economic “recovery” is underway when he knows damn well that the banking system is just blowing smoke up the shredded *** of what’s left of that economy – James Howard Kunstler
Discrete Math
Paula (Diary) Monday, October 17th at 6:00PM EDT (link)Haha! My son took that as a senior in high school. He had been homeschooled prior to that so this was his first foray into “school.” He ended up getting a “C”in that class (and worked his tail off for it!) and also a “C” in a sophomore-level Honors Micro-Econ class. Those “poor” grades were enough to disqualify him for admissions to the school’s Honors College. They prefer to admit students who have shiny 4.0 GPA’s in phys ed and basic algebra.
Paula
My blog: Bold Colors
Follow me on Twitter: pbolyard
Ours was a physics class specifcally designed for
earlgrey (Diary) Monday, October 17th at 7:02PM EDT (link)my major. I am not sure how I got through it, but somehow I did.
My college roommate
Paula (Diary) Monday, October 17th at 7:49PM EDT (link)who was a pharmacy major, flunked Organic Chemistry due to my excessive partying in our dorm room. Honestly, I don’t know how these kids find time to protest, what with all the partying that is required in college.
Wow, I was an idiot. Only by God’s grace did I make it out…
Paula
My blog: Bold Colors
Follow me on Twitter: pbolyard
Organic Chem was really tough
earlgrey (Diary) Tuesday, October 18th at 11:41AM EDT (link)I had mono during that class and was sent home. I wanted to take the last test before the final. If you did well enough on all the tests, you didn’t have to take the final. I did really badly on that test.
I had to take the final exam and had my three hardest finals within 24 hours while recovering from mono.
It didn’t occur to me to sit on my behind and complain about it. Isn’t that what the OWS crowd is teaching us. If you don’t like your circumstances, find someone to blame?
The cost of higher education is only half the problem.
mbecker908 (Diary) Monday, October 17th at 1:57PM EDT (link)The bigger half is that the quality is equivalent to the leftovers found in a catbox.
And specifically, with respect to the picture, my son is a former Marine. He’s currently a junior at UC Santa Cruz, majoring in Math and Economics, has a 3.9. When he graduates with his Masters in either Econ or Math – or one of each – his student loan balance will be zero.
He works, lives frugally, and is very financially responsible. He also is the recipient of several fairly high dollar scholarships ($3,000 range) that help make ends meet.
Sympathy for people with high balance student loans at our house? None.
I wish
oldbird77 Monday, October 17th at 2:58PM EDT (link)I wish I had gotten whatever advice you gave your boy when he was 18. It’s probably the same advice I’ve been giving my 9 yo and 5 yo. We walk by the Marine recruiter office twice a week on the way to Tae Kwon Do. They’ve already been told they can be a doctor or an engineer and the marines can pay for it. Going to college and majoring in a humanity has been a very costly learning experience for me and my wife.
Supply and demand
renl57 Monday, October 17th at 2:15PM EDT (link)The real reason why costs are rising is because far more students are going to college now than ever before–while the supply of universities and colleges has increased only slightly. (Can you name the universities that were chartered in the last 10 years? There are just a very few.)
That’s happening for two reasons:
Parents have grasped that real inflation-adjusted wages for men with just a high-school diploma have actually declined.
And the U.S. has thrown open its doors to foreign students, who come here with tuition paid by their governments.
In the past, many public colleges offered a higher tuition rate to students from out of state. Students from the state in which the college was located paid less tuition.
But now, many public colleges now attract foreign students by offering them the in-state tuition rate, even though they don’t intend to live here after graduation.
Why?
Because they’re a sure thing.
Students from the Middle East or Asia come to American universities with their tuition, room and board, and everything else paid by their governments. Cash-strapped state governments don’t have to worry about providing financial aid to them.
And after they graduate, they go back to their countries and make their countries stronger and more prosperous. And we paid for it with our tax dollars to support those colleges.
I disagree
oldbird77 Monday, October 17th at 3:02PM EDT (link)There are tons and tons of colleges out there. You want to go, you’ll easily find a dozen places that will take you. The usual supply and demand dynamic is skewed by government meddling in the market. Colleges don’t compete on price, even the for-profits, because they don’t have to, you can get a loan to pay for it.
But a private University has every right
bonnman Monday, October 17th at 3:51PM EDT (link)to open its doors to those who will pay for top price for its services. If foreign students have the money and are willing to pay why shouldn’t they accept them?
If you are suggesting the government should get involved by minimizing paying customers then that’s just more government meddling with the free market.
It's frustating
jaykali (Diary) Monday, October 17th at 2:44PM EDT (link)Alot of people get advanced degrees which is good but they don’t get super high paying jobs and are left with a lot of debt. I can imagine a lot of parents getting guilt-tripped into send their kids to a 4 yr school as opposed to spending the first 2 years in community college which would cut the bill way down but don’t want to hamper the ‘experience’ of college.
It’s a tough deal, bc the experience part is great but its not worth the kind of money people are paying these days.
At Times "Dumb Old Dad" Has To Step Up
Repair_Man_Jack (Diary) Monday, October 17th at 3:16PM EDT (link)How much do you pay for your kid’s “experience?” That is a tough question. Not everyone gets much in the way of experience and they really can be less well-rounded. On the other hand, how much is a fair price for “experience” $100K, $250K? A critical mass of people will oneday stop paying for this. Then we’ll see the tuitions decline as rapidly as these colleges and universities can get out from under their long-term capital investments.
Mr. Obama is pretending that an economic “recovery” is underway when he knows damn well that the banking system is just blowing smoke up the shredded *** of what’s left of that economy – James Howard Kunstler
Yup I agree
jaykali (Diary) Monday, October 17th at 4:03PM EDT (link)I mean over 100k is not happen’ in my house. I am a big Dave Ramsey fan so I think you have to pull out the calculator before signing up for one of these colleges but I am so far off from this decision we’ve got time for this issue to get better or worse.
I wish I could see all of the degrees ppl have that are having trouble finding work. I want to see if they are reasonable degrees or if they’re things like ‘french studies’ or ‘central american history’. I have a computer science degree and you have to beg people to sign up for CS bc it’s ‘boring’ or lame but I don’t think there’s much of an IT recession, it seems like quite the opposite. I think you have to weigh interest with how well a degree will lead to a good-paying job.
A lot of people for instance go to nursing school for example bc nurses are always in high demand. Weigh that against teaching for example which varies wildly by location. Some places are in high demand, some are impossible.
I just wonder if young people are being educated enough on the risk/reward of their degree. I think a lot of professors don’t really care ab post-graduation.
We are identifying the wrong problem -
myoda176 Monday, October 17th at 3:49PM EDT (link)The problem isn’t the amount of debt they have or how they got it, it is their critical thinking skills (both the student and their parents) deciding which college and which degree and how to pay for it. I don’t feel sorry for these people since they chose an uterly useless degree and that they chose to put themselves in debt for the rest of their lives to pay for it.
I went and got a double bachelors degree from a smaller liberal arts college, double major in Business Administration and Accounting. I knew that I would need the Bachelors degree to be able to get the job I wanted to pay off the loans. If I wouldn’t have been able to pay off the loans, I wouldn’t have gone to school and instead worked for some extra time at smaller jobs, saved up the money to go, and then gone back. But the money was always the front and foremost consideration both before going and afterwards with being able to pay it off. My parents and I were discussing all sorts of options because they did not have the money to help me go. So if I wanted to go, it was MY responsibility and therefore the loans were MY responsiblity too. And I finished paying off all of my loans about 5 years ago.
Why hasn’t anyone just considered that the free market would correct this problem if people would just start making rational decisions regarding financing? But this is something they don’t teach anyone and most parents just don’t want to be parents to their kids and teach them they have to earn what they want and not just have it handed to them.
I have no problem with student loans not being able to be discharged in bankruptcy. The reason this was set up was so that people couldn’t rack up thousands in debt and then just declare bankruptcy to get out of it. I think it puts the responsibility of the debt on the people who CHOSE to accept it and not on the taxpayers.
The problems identified above would all be fixed if parents and students would start making rational decisions based on what they “NEED” versus what they “WANT”. I see no reason why I should feel sorry for their stupidity when I acted responsibly and they did not. And this is the bottom line – Why do people who chose to act responsibly always seem to have to fix (or pay for) the problems of those who do not act responsibly? I have no house seeing as I know I cannot afford one, but yet I had to help bailout people who thought they should have one because they wanted one, but didn’t want to earn it. This is just another way to make those who act responsible pay for those who don’t.
Totally agree-
cbartlett Tuesday, October 18th at 5:54AM EDT (link)It used to be that you chose your profession (i.e. what you wanted “to do”) BEFORE you spent a bunch of money getting education or training. You only went to college if you wanted to “do” something that required it. Since the money became so easy to get, it seems like an awful lot of my kids’ friends these days get degrees in weird topics with no job in mind. I want to ask the stupid parents paying for it “What exactly do you see them getting a job doing when this is all over?” I have a degree in computer science and my husband is an engineer. we both knew what we wanted to do as a career before we started – and neither of us owed a dime when we got out. Our parents had saved a little and we worked our tails off at part-time jobs. Tuition these days is so ridiculous that you can’t even think about that at most universities. All three of our kids have degrees in reasonable fields and all three (in their 20′s) have a job! And no debt! I wouldn’t have paid for any of them to get a degree in General Studies. We own two small businesses and I wouldn’t HIRE someone with a General Studies degree. They’d be better off working for 4 years doing “something” to get them some experience than getting 4 years of worthless education. High schools are doing a very poor job of helping kids figure out what they are good at, what they like to do or even what kind of jobs are really out there. They just keep telling kids – go to college, doesn’t matter what you major in – just get that degree and somebody will hire you… Guess what? Not happening. What a shock. Wake up.
“America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves.” Abraham Lincoln
While I think the point about the rising cost of
runner12 (Diary) Monday, October 17th at 5:34PM EDT (link)college tuition being a big problem is a valid one, I have a hard time feeling sorry for those who have the student loan debt. I went to a private university and subsequent professional school.
I knew when I graduated that I would have a mountain of student loan debt to pay off. I am still paying it off to this day. No one took advantage of me nor did they lie to me. Maybe it is because I went to an honest university or something.
Regarding the person holding the sign, why on earth would you accumulate 99,000 in debt and then be a teacher where you will not make enough to pay it off? That is not using common sense.
They should be camping out on the campus quad
pithnvinegar Monday, October 17th at 8:12PM EDT (link)You have tenured professors that teach only one class and leave the rest to assistants. So many useless teachers like Gender Studies chair, etc. The researchers that do earn their keep with scientific breakthroughs don’t even own the patents to their own discoveries.
I’m searching for a punchline for this joke: how many students does it take to pay for a university football coaching staff?
How many students does it take to pay for a football coach?
Kyle-MI (Diary) Monday, October 17th at 9:49PM EDT (link)The answer at most major universities is zero. Most of them have self contained athletic departments. The big sports, especially football and men’s basketball, generate enough revenue to support the entire athletics department without tapping into any academic budget.
For example, the link shows athletic revenue at the University of Michigan:
http://www2.indystar.com/NCAA_financial_reports/revenue_stat/show
(if not do a search on University of Michigan at the link.)
Note the direct and indirect institutional support is zero.
Try this link
Kyle-MI (Diary) Monday, October 17th at 9:52PM EDT (link)That link did not work.
Go to this link:
http://www2.indystar.com/NCAA_financial_reports/
search on University of Michigan (or any other major university) and check the direct and indirect institutional support.
What...?
ldmartin1959 Monday, October 17th at 10:23PM EDT (link)“The protestor pictured below is a prime example.”
What…? Wait a second, that kid looks barely old enough to be *IN* college. He does not look anywhere near old enough to be a vet **AND** have a masters degree on top of that.
As long as we pay for it the costs will keep
daniel22 Tuesday, October 18th at 6:45AM EDT (link)escalating. I wish I knew where to begin but here in Nevada the “higher” educrats are turning blue.
1. As loans and scholarship money increased so did tuition.
2. As entrance scores were lowered enrollment went higher.
3. As enrollment increased expansion occurred increasing costs.
4. State scholarship funding depleted sooner than expected ( just needed C average to qualify) raise tax to cover shortfall.
5. Pay absentee profs outrageous salaries of over $100,000 plus perks.
6. Create white elephant (above) have recession hit.
7. Be home to countless diploma mill schools that would enroll a dead man in order to get their student loans.
The college and university systems will have to change the way business is done. It cannot maintain the way it lives now. We may actually have to require legitimate entrance scores for starters and progress to degrees that are actually marketable. I also believe that trades schools or apprenticeship programs are good when run by private enterprise and not govt. are good things.
+1
Stan Olshefski Tuesday, October 18th at 10:15AM EDT (link)n/t
One more time...government "help" = skyrocketing costs
rwgrammy Tuesday, October 18th at 11:30AM EDT (link)Is it just me, or did tuition start its steady climb when student loans became a must have for everyone…just like the cost of medicine climbed following the inception of the Medicare and Medicaid programs? Just like the price of homes when the government said everybody should own one and loosened financial regs. to allow all sorts of “creative accounting” which we all know ended in total disaster. Why can people not see that the further from our own pockets our dollars get, the more expensive and risky the things we want become?