Whither America?
I don’t know and I hate discouraging news but how do you avoid it because, even when you look at higher education, you have to lower your gaze. Among a load of current worries about this, that and the other are tuition rates avoiding common sense as well as a sense of ethics about the harm to students and even society at large.
What happened was a federal student loan program taking no heed of students’ financial situations, meaning any student could borrow any amount, thereby leading even low-wealth middle-class students to imprudently borrow whatever it took to get a coveted degree. It was seen as a blessing for future life, but watch out.
Inspired by the cash flow, private colleges have raised tuition and fees to an incredible $39,723 a year, according to U.S. News and World Report. Multiply that by four years and you’re looking at $158,892, not taking account of room and board and other costs, plus interest on the loans.
Well, anybody can handle that, right? Of course, not all of the students borrowed the full amount or failed to seek out cheaper schools, such as public universities. Their four-year, in-state cost has risen on average to a lesser $42,692 for four years, which is not to say free at last, free at last, thank the federal loan program, free at last.
