The cost of public university doubled under W. Glad Pubs still have their heads up their ass....Getting just a little too obvious these days...seeing a landslide in this on year election.
Let's explore that a little. Why did the cost go up? Student loans. Increase student lending and the universities see a new teat on the cash cow. They increase tuition because the government will fund it with student loans. There is a direct correlation to student loans and increased spending by universities. It's like Uncle Sugar gave them his credit card for the weekend.
The bubble will soon burst.
You can only lower interest rates on student loans so low. In addition, students who do graduate are having trouble finding jobs in this piss poor economy.
Eventually people will figure out that going to college is a bad idea and the party will be over.
Yep. My son graduated May 9th, packed and moved to another state and just started work this week on June 8th. He's an engineer and was pre-hired back in December. His friends with English, History, Women's Studies and Performing Arts degrees all moved back home and are trying to figure out how they will pay off their loans. My son figures he can pay his off within a year.
I have a niece who is 32 who is still in school working on her PHD in Medieval Literature. First, I have no idea where she will find a job later or how she will pay off 8 years of college loans.
It's time we updated the model for the 21st century. There are many majors that can be delivered online and much less call for brick and mortar. There will always be a need for brick and mortar, but this isn't 1915 any longer.