Your Nosebleed Student Loan Debt Pays The Tuition Of The Classmate Next To You

Forbes ^ | 07/27/2013 | Prof. Mark Hendrickson

[SeekAndFind]

Last year I wrote about some of the myths surrounding higher education in the U.S. You also have to beware of colleges acting to redistribute wealth.

Following is an anecdote with which I am intimately acquainted: In the mid-‘90s, there was a family (a white family which you will see is a significant detail) whose daughter had a sterling high school record that guaranteed her acceptance at all but the very top colleges in the country. This girl had everything—a nearly perfect grade point average and strong SAT scores, leadership and citizenship awards, three MVP awards in two different sports, and also additional extracurricular activities in school and community service outside of school.

One college that accepted this girl had annual fees of over $25,000 (more than twice that today, which shows how rapidly college costs have increased). The girl’s family had only a few thousand dollars of discretionary income after the unavoidable expenses of mortgages, taxes, insurance, food, transportation, etc. Surely that thriving, well-endowed college would offer such a well-rounded student some financial aid, right?

Nope. Not a penny. The college’s financial aid office was committed to increasing educational opportunities for minorities by giving them nearly full scholarships. Essentially, white kids, even ones like this girl with the exceptional range of accomplishments, were expected to subsidize the education of other, often less-qualified, students.

While offended by the college’s plan to redistribute wealth racially, this was a private college. The family felt that the college had a right to practice social engineering if it wanted to. The family, though, wasn’t going to go into debt to pay for this plan, so the daughter went elsewhere for her highly successful collegiate career.

[DoughtyOne]

Am I the only guy who finds it strange that the children of 10% of the populace can manipulate the system so much so, that children of 65% of the population have a hard time finding a scholoarship?

Ramirez's political cartoon "daily dose" 07/28/2013: LINK

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[CitizenUSA]

Eliminate government programs to subsidize college, and you’ll quickly see tuition rates fall. Government collusion with the higher education industry is responsible for the rapid rise in tuition. Pell grants, student loans, etc., are propping up higher education. Not only that, but government also colludes with the education industry by requiring credentials for many, many government positions that don’t really require them.

There are many classes, like calculus, trigonometry, English, reading, speech, etc., that haven’t fundamentally changed in decades. Government is the problem. There’s simply no other explanation for why tuition has grown and continues to grow faster than the rate of inflation.

[Secret Agent Man]

and then with government’s own diversity hiring programs, these sub-par people get “jobs” where they can’t perform or perform just barely enough not to get fired, if that’s even possible for them to be fired.

[Cowboy Bob]

What’s bad is that it’s white people who punish fellow white people in order to do this. So called “reverse discrimination” would not exist if it weren’t for the elite whites using it against fellow whites.

[PuzzledInTX]

Same thing happened to me 30+ years ago. I was accepted at every university I applied (even Ivy league). My parents could not afford helping financially with other college going siblings, so I financed my state university education by myself through a very small scholarship, part-time jobs, college loan and ultimately a grant in my senior year as I was able to claim an independent income separate from my parents. Btw, on all applications for financial aid, white causcasian is listed as ‘other’.

[Cowboy Bob]

Who in government creates and promotes diversity? Liberal white people. They are all for “diversity” as long as it doesn’t impact their friends and family.

[CitizenUSA]

Government shouldn’t provide any education loans, grants, or scholarships period. Everyone is free to donate whatever they want to whoever they want. That would result in increased accountability (for the dollars donated) and lower tuition for everyone else. Of course, it would also mean lower wages for the leftists who now dominate most colleges, but that’s not so bad either. Our modern education system is just another socialist enterprise that is not fundamentally different than single moms on welfare or corporations lining up for government cheese.

[DoughtyOne]

I agree.

[Secret Agent Man]

there’s plenty of liberal black people in government doing the same thing. There is a huge disproportionate representation of blacks in government jobs, w/r/t their 12% population demographic.

[RetiredTexasVet]

The author should have identified the college so the college could be avoided by the article readers.

[Hoodat]

I got my student loan back in 2006 before the federal takeover and monopolization of the federal student loan industry. My current free market rate is 2.35%. Today’s students are being screwed royally, and both parties are to blame. I have yet to hear a single Republican say that we need to turn it back to the way it was before Pelosi became Speaker.

[heartwood]

I do know a young white man who got a great deal of financial aid from Princeton, nearly a free ride. He’s very bright of course, but not amazing in any way.

The Ivies have plenty of money - other not quite top tier schools not so much.

[DoughtyOne]

My pet peeve is that these universities are inhabited by 90% Leftists (faculty). I don’t have a problem with doing away with the scholarships et al, but for heaven sake, if government funds are going to these institutions, there should be political parity in the staffing. I’m not going to ever support our universities be the sole proprietorship of the Marxists.

[CitizenUSA]

You’ve nailed it. So a minority who isn’t necessarily academically qualified for college is given our money to attend grievance studies. If they manage to complete the relatively light course load to get their B.A. in white hatred, the government will be waiting to hire them. Then we get to deal with them whenever we need to go to government to get something done.

BTW, this post is in no way meant to demean those minorities who ARE academically qualified to hold their own and who take a serious course of study, like engineering. I applaud them just like I applaud ANY American who believes in hard work and independence.

[max americana]

“so I financed my state university education by myself through a very small scholarship, part-time jobs,”

did every part time job imaginable from telemarketing a scam lottery, test subject, dj for a strip club and driver for an escort service. I calculated how much i was going to owe after grad and it wasn’t acceptable, hence the jobs. You can’t beat real world experience working for a madam, in relation to my Buss Mgmt major.

[PuzzledInTX]

A government grant can sometimes be a very good investment. For example, for what I received in grant money my senior year in college, I paid back three-fold in my first year income-tax payment.

[CitizenUSA]

The process generously rewards the elite, leftists whites who are in charge of these wealth redistribution programs. A lot of conservatives hate government employees. What they don’t understand is there are different types of government employees. There are some careers, like engineering, where a degree really is necessary and the government employees make less than their free market peers. There are many, many more government jobs that require degrees where none are really needed and pay way more than the skills are worth. These jobs are handed out based on the color of your skin and who you know. They only appear to be competitively advertised.

[Sooth2222]

Interesting that medical cost inflation was enough to bring us Obamacare, but college cost inflation brings us an even larger student loan program to inflate prices even more.

It's possible to to complete a college education on a budget. For those who don't win merit scholarships -- there is the alternative pathway of local community college for the first two years, followed by the final two years at state U. There are always spaces in the Junior and Senior state U classes because the dropout rate is so high. This pathway costs a small fraction of a private college (and results in a small fraction of the debt) for a BA or BS degree.

[VRW Conspirator]

There’s simply no other explanation for why tuition has grown and continues to grow faster than the rate of inflation.

Bump. And, the colleges have spent every dime while increasing the size (and pay) of faculty and staff.

About a year ago, I saw a news article about a local university where an associate professor got into trouble with the law. The article mentioned that this associate professor was pulling down over $100,000 a year. My first reaction was "is he that good to receive that kind of pay?". And I just wondered what a full professor with tenure makes. It is a nationwide scam. And don't get me started on the cost of books.