Re:Ripping Off Young America: The College-Loan Scandal
by klenwell on Friday August 16, 2013 @03:30PM
(#6226239)
#4 has also been abetted by the decline in state investment in higher education. A generation ago, I felt I got a great a deal paying $1000/quarter at a UC school. Registration for community college, where I started, was capped (capped!) at $50/semester and served a much more broader segment of society.
What's UC tuition nowadays? $3700 for resident tuition. $4900 when you include all the fees (which my $1000 figure did). Push everything forward 20 years and my parents would have no expectation to be making much more money now than they did then. I would be carrying more debt.
Pick your narrative for explaining what happened in the meantime. "Rich people demanding higher returns, enslave unsuspecting youth through their loan seller proxies" works for me.
What's UC tuition nowadays? $3700 for resident tuition. $4900 when you include all the fees (which my $1000 figure did). Push everything forward 20 years and my parents would have no expectation to be making much more money now than they did then. I would be carrying more debt.
Pick your narrative for explaining what happened in the meantime. "Rich people demanding higher returns, enslave unsuspecting youth through their loan seller proxies" works for me.