Re:U.S. To Forgive at Least $108B in Student Debt in Coming ...
by a_thro_away on Wednesday November 30, 2016 @04:47PM
(#13075014)
I don't disagree, but where I saw it begin was approx. +25 years ago when business started demanding degrees for jobs that had previously had no requirement, and for career advancement, as well as refusing on the job training. They would pay for expensive tuition and book benefits with no problem though. People began beating the doors down of colleges as this was the only way to enter many careers, or advance to the next level once there. Once this cascade started, the government wanted to make sure there was some kind of equal access to education, so funding had to be made available to allow the less privileged to attend, students or adults. Just my take on it.
Re:U.S. To Forgive at Least $108B in Student Debt in Coming ...
by rcarrigan87 on Wednesday November 30, 2016 @09:46AM
(#13071118)
School that I went to also has been on a building spree for the past 20 years. I'm sure a lot of the spending is necessary, but seeing things like mega-gyms and amphitheaters being built with student tuition is ridiculous.
The irony is no one will ever be able to afford a gym membership as nice as the gym they had in college because they're too loaded with debt from said college.
Re:U.S. To Forgive at Least $108B in Student Debt in Coming ...
by cableshaft on Wednesday November 30, 2016 @10:49AM
(#13071641)
Same here. My college has a 30 year master plan on their website, and it's basically knocking down every single building and rebuilding them. They've already knocked down several buildings and what they've replaced them with has been at least twice as big. The gym they built about seven years ago is huge, and fancier than just about every commercial gym in the city.
But.....that being said, I have heard that they lost over half of their government subsidies (it's a private school), and the state has been perpetually 6 months behind on those subsidy payments, so that's at least part of the reason for the tuition increase also.
The cost increased due to government intervention. They wanted more people to go to college so they told lenders they'd guarantee loans for education. They do that by having the ability to take it out of your paycheck for the rest of your life if you don't pay. Anyway, with the flood of money instantly available, schools were able to jack tuition by double digits every year for as long as the want. The place I went has been on a building spree for the last 20 years - it's a whole different place now. Part of that was needed since the number of students has about doubled, so it's not entirely wasteful. But the bottom line is that the "free" money is what caused the rates to rise. I feel bad for that entire generation - they got fucked from all angles financially.