“Tuition prices have soared well beyond the inflation rate”
Instead of laying this all on taxpayers, why don’t the schools put some skin in this game?
Christopher Tremoglie writes at the Washington Examiner:
Student loan forgiveness is nice — nicer would be holding colleges accountable for the debt crisis
As a recent graduate of the University of Pennsylvania, I have tens of thousands of dollars in student loan debt. My parents were not the Kardashians, so I stand to benefit significantly from student loan forgiveness. Furthermore, I do not entirely subscribe to the right-wing thought that student loan forgiveness is bad. After all, if our government spends millions on gender studies programs in Pakistan, I’d rather see that go to student loan forgiveness here at home.
However, student loan forgiveness doesn’t address the root of the problem — colleges charging ridiculous tuition prices.
In the student loan debt crisis, colleges and universities have escaped the blame they deserve. These institutions charge gargantuan predatory prices with little justification, mostly just because students have access to the loan money.
Democratic senators such as Elizabeth Warren and Bernie Sanders constantly lament the $1.6 trillion student debt crisis, but I cannot find any evidence that they have ever focused on the outsize role colleges played in creating it. They hold Wall Street to different political, financial, and moral standards than universities, which have arguably behaved in a far greedier way.
Tuition prices have soared well beyond the inflation rate — an especially noteworthy fact given the current state of affairs. Between 1978 and 2019, college tuition prices increased by a shocking 1,375% — four times the rate of inflation and eight times faster than wages since the 1980s.
Why is this? Has it suddenly become significantly more expensive to teach foreign languages? History? Science or math? And if so, why is it so much more?
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