Tuesday, January 07, 2014
"CNN Viewer Has Questions"
In today's society, there is surely room for both the college educated AND those who prefer to pursue a trade...
Mike Rowe of "Dirty Jobs" fame, recently responded to some questions on the subject:
"Your question implies that the middle class should be borrowing money to send their kids to an expensive four-year college. You also imply that college is far too expensive because interest rates on student loans are too high. Might I respectfully challenge both implications?
Since 1985, college tuition has increased at nearly 500 times the rate of inflation. (See: College tuition has jumped by 500% since 1985) Can you imagine the same jump in any other area? Food, housing, medicine, energy? If everything we need to live increased in price at the same rate as college tuition, there would be a national riot in about 10 minutes. So what really happened in the marketplace to allow college to get so expensive? Is it really all because Republicans want to raise the rates on student loans?
Think about it. Universities get to decide how much money to charge their students. Likewise, parents and students decide if they can afford to pay it. It’s a pretty simple proposition. But when the government suddenly makes hundreds of billions of dollars in student loans readily available — under the popular (and voter-friendly) theory that “everyone should go to college” — we see an unintended consequence. We see colleges suddenly motivated to charge more money. A lot more. And so they embark on their own PR campaigns to boost enrollment. They hire ad agencies and publicists and lobbyists and go about the business of persuading people to 'invest in their future.' And most importantly, they provide an admissions department to help arrange for an affordable student loan. This is what’s been happening for the last 40 years."
