At it's core, this is an economic problem. When there's an "endless" supply of money, prices go up.
Combined with the newfound belief that, you must, and in fact, are entitled to go to college, "demand" goes up too.
The result is students racking up needless debt when they probably shouldn't have gone to college to begin with. College is NOT the only option to build a successful career, but in America, with no degree, you're seemingly sub-par in the eyes of our backwards society.
So, who wins? All these "Not-for-profit Universities" whose profit margins (non-profit, doesn't mean that aren't profit-ABLE) are probably better than many Fortune 500 companies.
The solution is to dry up the source of loan money, reduce the pumped up demand for bogus degrees kids are getting and encourage young people to consider other career options. You don't need a piece of paper to be successful.
There was an article over the weekend about MIT and that 58% of their students receiving financial aid. And how the tuition has gone up over 1000% in the last 20 years. And that MIT is purposly setting the tuition so high because it enables them to be a tax exempt charity based on that 58%.
Point is that it is in the school's best interest to make it unaffordable for most of the students that go there. More loan money is available, so the tuition goes up to keep it unaffordable for most of the students.
Everyone has the right to education. Right now it is an artificially limited resources, which hurts future society and hampers social mobility, working in direct opposition to the promised American Dream.
in the USA and other places colleges repeat for first two years same course in High school...Indiana and some other states now rewards HS students taking the get out of college courses tests now with free 2-year degrees to reduce student debt on 4 year degrees
Combined with the newfound belief that, you must, and in fact, are entitled to go to college, "demand" goes up too.
The result is students racking up needless debt when they probably shouldn't have gone to college to begin with. College is NOT the only option to build a successful career, but in America, with no degree, you're seemingly sub-par in the eyes of our backwards society.
So, who wins? All these "Not-for-profit Universities" whose profit margins (non-profit, doesn't mean that aren't profit-ABLE) are probably better than many Fortune 500 companies.
The solution is to dry up the source of loan money, reduce the pumped up demand for bogus degrees kids are getting and encourage young people to consider other career options. You don't need a piece of paper to be successful.