Somehow, some way, the American taxpayer will be made to pay for this boondoggle.
And yes, it is a bubble.
Do I sound jaded at all?
“Somehow, some way, the American taxpayer will be made to pay for this boondoggle.”
Yep, the American “education” establishment is too big to fail.
Not at all.
You sound like someone who understands economics as put into action by America’s socialists.
And the cost-of-education bubble (enabled greatly by government financing, grants, and scholarships) is only one of many that is going to burst and cause a lot of problems when it does.
Let’s not forget that most universities invest heavily in real estate around their campuses. A bursting of the residential and commercial real-estate bubbles combined with a bursting of the cost-of-education bubble and a decrease in the net worth of alumni who give to their alma maters (due to the depression) is going to spell fiscal insolvency for many, many colleges and universities.
I see this as a good turn of events. Upper academe has become largely a tool of the leftist state and our entire education system from K-Bachelors needs to be overhauled, returned to a locally controlled curriculum with its roots in the basics.
The American taxpayer is paying for it now. Because of changes made by the Obama Administration, funding for student loans no longer comes from private lending institutions. They now come directly from the US Treasury. And as with all monopolies, future students can expect to pay higher rates of interest than they would in a competitive market. And if a student falls outside the government's graces, they have nowhere else to go to get an unsecured student loan. Yes, Big Brother is tightening its grip on a new generation.
The first to nationalizing education will be have the Government take over the student loan industry. Oh - wait a minute.....