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When one hears of at the mountain of debt students and their families incur just to pay for a college degree, where is the outrage over the absolute, out-and-out greed of the higher education establishment?
These institutions have levied costs that have far surpassed the rate of inflation over the last couple of decades (depending on the source, 3-5 times more)
When someone is duped into paying 60, 80 100 thousand dollars or more for a degree in Art History, Library Science, Women's Studies and Q*eer Theory and so on, someone needs to be brought forward and held accountable.
Students should be uniting against those on the campuses that are complicit in making their higher education unaffordable or debt heavy.
While I agree 100% that the cost to go to college is outrageous at the moment (speaking as a college student), no one is forcing these students to go to these schools...Plus the return on investment (getting a good job [if the student makes a wise major choice and does well with school]) will ultimately (hopefully) dwarf what they paid to go to school.
Again it goes back to the SAME thing plaguing our society---Wall Street, speculation, and derivatives creating a hyperinflationary financial bubble. It's eerily similar to the housing bubble that burst. It is only a matter of time before it bursts......and guess what, you the tax payer are already on the hook for the bill. It's already written into law. It's what the big banks lobbied for.
Here's a scary thought. Nothing can stop a university from investing in SLABS, in other words, universities have strong incentives to have their students in as much debt as possible! They can make money off them once through tuitions and fees and another through investing on that students debt. It's quite sickening.
I really don't know where society is headed. We are going to witness monumental change soon. The middle class has finally started to catch on that they are being fleeced left and right by Wall Street and are starting to fight back.
When one hears of at the mountain of debt students and their families incur just to pay for a college degree, where is the outrage over the absolute, out-and-out greed of the higher education establishment?
These institutions have levied costs that have far surpassed the rate of inflation over the last couple of decades (depending on the source, 3-5 times more)
When someone is duped into paying 60, 80 100 thousand dollars or more for a degree in Art History, Library Science, Women's Studies and Q*eer Theory and so on, someone needs to be brought forward and held accountable.
Students should be uniting against those on the campuses that are complicit in making their higher education unaffordable or debt heavy.
Where are they?
This is one of the best posts I have ever seen. Within this post lies the knowledge of most of the problems of our society. The academics have been allowed to rape our children, steal thier futures, and leave them a student loan equivalent to a lifetime mortgage in the offering.
I guess that is why when a society has a revolution the academics are the first to hang.
While I agree 100% that the cost to go to college is outrageous at the moment (speaking as a college student), no one is forcing these students to go to these schools...Plus the return on investment (getting a good job [if the student makes a wise major choice and does well with school]) will ultimately (hopefully) dwarf what they paid to go to school.
I agree but when the dreams or assumptions don't play out many of these students and graduates look for someone to take their anger out on. Wall Street, Tea Party.....
To be honest, these 99%'ers throwing a tantrum on Wall Street should instead be picketing the campuses and classes given their outrage over the costs of their education...that they willfully incurred.
I agree but when the dreams or assumptions don't play out many of these students and graduates look for someone to take their anger out on. Wall Street, Tea Party.....
To be honest, these 99%'ers throwing a tantrum on Wall Street should instead be picketing the campuses and classes given their outrage over the costs of their education...that they willfully incurred.
Bullsh*t.
Wall Street is the one that put the pedal to the floor on college tuition costs through lobbying millions of dollars in order to get student loan debt non-dischargable in bankruptcy court. They also convinced the government to back student loan asset backed securities, so even if a student goes into default, banks can still reap profit since the government will pay the tab. Wall Street has rigged the system forcing tuition prices to skyrocket so that students are forced to keep taking out more debt. Banks can get away with handing out easy money because there is absolutely no risk involved--the student can't get rid of the debt and the government backs SLABS.
You really should do research into the derivatives market of student loan asset backed securities. You'd be shocked at what you'd find and how our system really works. Seriously you should. You may think students that take out a lot of money for school is their problem and that they should pay it back, but that's where you are mistaken. It's YOUR problem too as a tax payer. YOU are on the hook for the bill once they start to default.
Last edited by fibonacci; 10-06-2011 at 12:42 AM..
While I agree 100% that the cost to go to college is outrageous at the moment (speaking as a college student), no one is forcing these students to go to these schools...Plus the return on investment (getting a good job [if the student makes a wise major choice and does well with school]) will ultimately (hopefully) dwarf what they paid to go to school.
I wouldn't go with dwarf. I'm taking bets one of the next crisis are student loan defaults. Sadly the robber barons have taken their cash and rule the land.
Professors determine the price of college tuition?
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