It’s been well known that the costs of college tuition and fees have outpaced inflation for decades. This Bloomberg Business article, Student Loans May Be Driving the Tuition Explosion, explains,
The surging cost of U.S. college tuition has an unlikely culprit: the generosity of the government’s student-aid program, a report by the Federal Reserve Bank of New York said.
Well, duh! Our question is, why did it take them so long to figure this out? It’s been obvious to some of us for years. Any time you have a big pot of money, some people will be trying to get a piece of it. Colleges and universities are no exceptions.
July 13, 2015
Had I been running an institution, I would have welcomed it too!
Yes, it’s been very lucrative for some colleges.
our university president is one of the highest paid in the nation… with FREE housing.
all of them are in the six figures. most of them over half a million a year.
and our football coach IS the highest paid . . . at $4,303,000. per year.
and in 2008 he received a one time ‘bonus’ payment of 3 million dollars just for being there for 10 years.
please tell me what those kinds of figures have to do with higher education of children?
it’s ludicrous what is going on in our colleges and universities.
And kids are going into debt for the rest of their lives. No doubt we taxpayers will end up paying a big part of the tab, too.
similar scenario here as well Tammy, someone said our chancellor earnt more than the prime minister [= your predsinet /pro rata] – crap – spelling!!
what worries me is how many students %-wise end up in a career similar to their study – with a loan bigger than a mortgage handging over their heads