Why College Is So Expensive In America

Why College Is So Expensive In America


College in America: it’s four years
of all nighters, keg stands, ethnically diverse welcome brochures, Pinterest
perfect dorm rooms and crushing student debt. I have $69,812, $47,000,
$90,000, $35,000, $350,000, $60,000 worth of student loans. My
minimum student loan payment is $1,000 a month. It should take me about 10 years to
pay that back, I will be roughly 36, 45-years-old, I don’t know how old I’ll
be when I pay that off. I was actually on campus at Penn State and I
saw that I had so much to pay and it just was overwhelming. I didn’t know how
to do it, I never saw a number that big. I just went to school for
a few months found out that it was not what I wanted at all, and now
I have this forty thousand extra dollars that I have to pay and nothing really
to show for it. If I wasn’t paying this student debt, oh my God, I would
just invest all of my money. It feels like I will have a roommate for the
rest of my life because my debt is so much. You can’t point at someone
and say, this person made your student debt load so much more, it’s the
whole system. So why is college so expensive, and is it worth it? Higher
education today is made up of three main sectors. They all bring in money
from tuition but where they get the rest of their revenue varies. Public schools are your state schools
like SUNY or Iowa state. They get money from the government. Private
for-profit schools like the University of Phoenix or Capella University
get money from shareholders. And private non-profits are those like Yale an
American University, they get a lot of their money from donors. More on
that later. But choosing a college hasn’t always been so complicated. In
1636, America’s first college was founded. You might have heard
of it before, Harvard University For hundreds of years college in America
was a pretty exclusive club to get into. But we’ve come a long
way from Harvard’s first graduating class of just nine men in 1642. In
2018 more than three million Americans were expected to receive a college degree. The demographics of American
higher education have been utterly transformed. In 1944 the G.I. bill was signed
into law giving veterans money to attend school. The G.I. Bill of Rights looks
after the money end too. That’s right. Tuition is taken care of. Funds
are provided for laboratory fees, books, supplies and equipment are included. Just a few years later, nearly
half of Americans enrolled in college were veterans. You cannot underestimate the G.I.
Bill. This educated an entire generation of men and some women too. And
it opened the doors people who hadn’t even thought that they might go to
college. The G.I. Bill changed what American families could aspire to. But not everyone was able to take
full advantage of the bill’s benefits. It was significantly harder for women and
people of color to get the tuition money and enroll in college
because of the widespread discrimination by both schools and banks. Dateline Russia 1957. In a moment the story. In the
50s a little beach ball sized satellite launched into space by the Soviet Union
had a big impact on the American education system. The first Sputnik. People were worried
about this clash between the Soviet Union and the United States. And
suddenly it was popular to study science and math. It was patriotic. In the 60s the civil rights movement
helped push the doors open even wider to give women and people of
color access to higher education. In those years students at University of
California schools paid less than a thousand dollars in registration fees. No
tuition if you were a resident. But with the 70s
came the taxpayer revolt. If you want something you pay for it.
Don’t expect me to pay for it. It’s your problem not mine. And so
what happened was the student loan process exploded. And then came the
U.S. News and World Report. It was one of the luckiest
or most ingenious publishing decisions ever. In 1983 U.S. News and World
Report published a list of America’s Best Colleges. It became a highly data
driven ranking. Every one of the criteria that U.S. News used
depended on name recognition, traditional quality, prestige and most of all
wealth. Rankings played a big thing for me. I was an athlete and
so I was pretty competitive. There have been a ton of new lists
since the 1983 ranking but the U.S. News and World Report still reigns king.
And colleges keep a pretty close eye on it. If you ask them they will say they
pay no attention to it. But within the conference rooms of the admissions
office and provost offices across the land, I can assure you they
pay very close attention to it. One thing they’re paying attention to
are their test score averages. By the 90s, colleges started boosting base tuition
and using the extra money to give merit based scholarships to kids
who tested well. The chief data strategist at U.S. News and World
Report downplayed test scores as a major factor in their ranking, saying it’s
less than eight percent of the methodology today. And that “We’ve
seen schools perform best in the rankings if they emphasize and
perform strongly in student outcome areas like graduation and retention rates.
He also said they further decrease the weight of SAT and ACT scores.
Tuition costs at both public and private colleges have doubled since the late
80s, even when you account for inflation. Even so, more Americans
are getting college degrees. But state funding for public universities has taken
a hit. States spent less on higher education in 2017 than they
did in 2008 before the recession. And that means students are spending more.
The tuition they’re paying is a big moneymaker for colleges. 2017 was the
first year ever that most state schools got more money from tuition
than they did from government funding. If you’re sitting in the state
legislature and you’re looking for money, the university system is one of
your biggest costs. So when you realize well we cut them 2 percent last
year, they didn’t go out of business. Let’s cut them another 2 percent. What
happens is you pass the buck. It goes from the
taxpayer to the student. The average student graduates with
about $37,000 in student debt altogether. The U.S. has
$1.5 trillion dollars of it. I had this mindset that I was gonna
go to college undergrad and then I was gonna go to grad school and get my
PhD. I thought that I would get through it and then come out on the other side
with a job and then be able to pay it off. But that did
not go according to plan. Rachel Brandt got her undergraduate degrees
in math and economics from Iowa State. Then she moved to New
York to pursue her master’s in economics. She left grad school after her
first semester to better cope with mental health issues she was going through. I thought that I would just withdraw
and be fine. But then a couple of weeks after I withdrew, I got an
email from the school saying that I owed them $6,000 right away. And that was
rough. So I didn’t know how I was going to pay that.
And that was very stressful. Three, four, five, six, seven different student loans that all
have to be paid with different interest rates. The number just keeps going up. I
will be paying $867 in rent a month and that’s about how much I’m going to
have to be paying in loans. I look at my bank account every
day and it’s very scary. Rachel is far from the only one
not to finish a degree she started. Only about 57 percent of undergrads complete
their degree within six years. One option students turn to for a
more flexible and at times more affordable path to a degree are for-profit
colleges like University of Phoenix or DeVry University. The industry has been
in flux, but today a little more than 900,000 students attend for-profit colleges
in the U.S., many of whom use federal loans to
help cover the cost. I feel like I want to do
something practical that would that would clearly lead to a specific job. The Art
Institute of New York City was suggested to me. Now, I really regret that it
was because it turned out to be a terrible financial experience. Despite for-profits being just a small
fraction of all colleges in the U.S., for-profit students default on their
student debt at a much higher rate. Chyna is a first generation college
student from New York who studied web design and interactive media at the Art
Institute of New York City when it was run as a for-profit. I withdrew from the school, that
was something could have entirely taught myself using tutorials. For-profit schools date all the way
back to colonial times. Not everyone could attend institutions like Harvard,
so entrepreneurs saw a business opportunity and began teaching reading, writing
and trade skills *** for a fee. Benjamin Franklin was a big
fan of for-profit schools and the practical skills they offered. In
1994, University of Phoenix’s parent company Apollo Education Group went public
and laid the groundwork for the for-profit education
corporations of today. But this big business approach
to education hasn’t come without controversy. With so much money on the line many
turn to the schools that show the best numbers, the best chances at a new
job when you graduate. But can you believe what some of those
for profit colleges tell you? When I went there for the so-called
tour it was it was basically a sales pitch. That should have been a red flag but
it wasn’t because I was 18, not having parents who completed college, you
know, being a first generation student it’s like I
didn’t have the discernment to just leave those kind of
schools alone. The Art Institute did not respond to a request for comment.
However the director of Cato’s Center for Educational Freedom defended
the for-profit system, saying non-profits make a lot of money too.
They just distribute it differently. He said traditional colleges often use it
to “make the lives of people working in them more comfortable.”
He also said everyone in higher education is almost certainly seeking
profit and there is little evidence that people in for profit schools
are less focused on students best interest. Since Chyna left, the Art
Institute of New York City along with 43 other Art
Institute campuses shut down. There are a number of
lawsuits against various campuses. However Chyna’s not able to qualify for loan
forgiveness because she left the college just before the cutoff date. And she
feels trapped. Since she hasn’t paid off her student loans in full, she’s not
able to get her transcript, which she needs that to apply to state schools.
So for now she’s enrolled in another for-profit school in the hopes of using
the degree to apply to a master’s program at a state school. I feel like all these for-profit
schools they prey on people who are already who come from low
income backgrounds. Enter the non-profits. Amari Lilton is from St. Louis but
went to undergrad at a private college in Chicago. Now she works at an
advertising agency in New York City and is paying off her more
than $40,000 in student debt. You want to have the college
dream without the student debt, because you’re just coming into something and you
feel like I’m gonna have all this independence I’ll be able to pick
my own classes I’ll have this freedom I’ve never had before. So you want
to go to the coolest place you can. Every college wants to be the best.
They want to compete with the next college. They want to attract the
top students. That means they have to have the best facilities they
have to build new buildings. And remember tuition discounting? While
the sticker price of non-profit colleges are rising, so is the tuition
discount rate. The price you see on a college website is higher than
what many students end up actually paying. You would think that most of
the money is going to the cost of running the school, but nearly
half of undergrad tuition at non-profits goes to help other people pay
for their schooling. Amari didn’t pay the full price of tuition at her
private college but she’s still facing more debt than she was expecting. I just cried. Yeah I just cried because I
had no clue how I was going to do it. I dream about it. It’s always on my mind. If I’m like
going out to lunch and I’ll just say, oh my God I hope this goes through
because I know they just took my money out. I just hope, I hope. I want
to double my payments by the end of this year so $2,000 a month. My goal is to
not go into my 30s with debt. If I go to Wells Fargo and say like
I want a portfolio with all my best investments help me out, they won’t
take me seriously because I have $250 in the bank. So where do we go from here? I’ve
been studying this for a long time and advocating for reform and this is
the hardest type of problem to fix because it’s structural. It’s all of
us. It’s the whole market. Jarrett Freeman ran for New York State
Senate in 2016 when he was just 26 years old. I declare my candidacy for
New York State Senate. And a big part of his platform
was education and student debt. I was actually on campus and I saw that
I had so much to pay and it just was overwhelming. I didn’t
know how to do it. I never saw a number that big.
Americans are becoming less convinced that a college degree is worth it. In 2013,
53 percent of people thought a four year degree was worth it. In 2017
only 49 percent of people thought so. I think that it’s so ingrained in your
head that you have to go to college, that college is the next step after
graduation. I think in hindsight I see that college is not for everyone. Overall I feel a little jaded about
college being worth it for everyone, or at least for students
directly out of high school. Knowing what I know now, I would have
even taken a few years off before I went to college. There is this
idea that 18-year-olds are supposed to know what they want in life. And now
that I’m turning 25 tomorrow, I still don’t know exactly what’s going on. That mindset could be a problem
for the future job market. It’s expected that by 2020, 65 percent of jobs
in the U.S. will require people to have some college education to even be considered.
So there are a lot of jobs that require you to spend some money
on school before they’ll pay you to work. In many cases that
sum is a lot of money. Student debt is a national crisis.
Unfortunately we don’t have bills on the floor that are
actually addressing that. The reality is there probably isn’t
just one solution that’s going to solve everything. It will take a
lot of different approaches, and different approaches are being tested across
America. One of the proposed solutions is an income share agreement.
Essentially, instead of taking out loans, students could agree to repay an
investor a percentage of their income for a set amount of years after
they graduate. The idea has support from politicians on both sides of the
aisle and some schools are starting to test it out. In New York
City, Governor Cuomo implemented a program that gives middle-class residents free tuition
at select state schools. And some billionaires like Bill Gates are
giving their own money to try and fix the system. And of course
there’s the idea to offer free college. I do not agree with free college.
I think that when you give someone something for free they do not realize
the value of it, and that’s just my opinion, and I think that there
should be some cost associated with it. Free college is a great idea. I
am fully supportive of free college. The catch is: who’s going
to pay the bill? In other countries taxpayers foot most
of the bill. So instead of paying student loans later in life, you’re
paying higher taxes. Roughly two dozen countries across the world provide free
or almost free college to its citizens. The solution probably won’t be that
simple in the U.S. But with student debt rising and the need for
a college degree becoming more and more important, the future of American
education depends on figuring this out.

100 comments

  1. In a way it’s upsetting that prisoners get free education why not give it free to college students who are really trying to make a living.

  2. What is barely mentioned in this article is what the colleges are paying their tenured professors. High salaries, full medical insurance, incredible retirement plans, annual pay increases, and complete job security–all for "professional" radicals who mean-mouth America for being racist, bigoted, homophobic, imperialist, and on and on. Must be nice to be on that gravy train.

  3. because we have to pay academia high salaries to teach crap and the government issues open ended loans/credit cards to pay the fees.  close the amount you can borrow and the amount of fees would go down.  stupid.

  4. Just study in India…Pass the exam..Go back to America and pass its equivalent exam and you will have degree in less than 1/10th of original cost😉

  5. I went to university from mid 2006- early 2012 in Indonesia, I only spent less than US$1000 for that 5,5 years of university's expenses. Of course that's exclude housing, eating, and personal expenses. Not long after graduated, I was hired for multinational company. I feel so blessed living in Indonesia! Haha.

  6. dropped out of uni as I did not feel like paying 1000s and 1000s to sit in a classroom for years, no debt, successful career in sales, happy life

  7. She went to Art Institute ?!?! everyone knows those art "schools" are just money grabbers, putting you in debt with a useless degree.

  8. I have to point out that these people, with so much student debt (it is a lot, that's not sarcasm) are buying 15in $2,000 computers and $160 earpods. Quality economic decisions there

  9. Why are these people so surprised?? This is not a new thing. WAH WAH They CHOSE to go to COLLEGE! Pay your crap and quit whining. You do not HAVE to go to COLLEGE. And the government made it worse by taking over the Loans.

  10. Here’s the fix. Offer 60% discounts on tuition to students who are over 40% bodyfat. The student gets an annual liposuction to bring the student down to 4% bodyfat and the University sells the fat to the food industry in America and maybe abroad.

    Everyone wins. Hard. Make America Win Again. We need business innovation. We COULD stop the gov’t from guaranteeing securitization of loans. If people had to pay upfront, they would consider the cost. Fewer people would go to University and prices would drop.

    Same with healthcare. It’s law in the US that all medical bills must be paid by the insurance company within 72hrs. When they payer is the gov’t (Medicare, Medicaid), the hospitals know they can charge whatever they want and it’ll get paid. Hospitals use this strategy to recover losses by self-pay patients not paying their bills. Those patients can’t pay their bills because the prices are literally insane. Prices are insane because gov’t guarantees payment for its Medicare/Medicaid subscribers. It’s a circle of inflating prices caused by payment guarantees.

    Turns out when people spend OTHER PEOPLE’S money, they’re much much less critical of costs. BUT until gov’t gets out of non-essential services, liposuctions for tuition discounts seems like a pretty good deal.

  11. Hey Mr. Politition: You guys are suppose to be leaders. This student debt thing is mostly your fault — because of your inaction — because of your greed, and lack of patriotism — in being bought off by the lending industry. Leaders — ya right! But then, we are the idiots that elected you.

    Taxpayers need to do a better job of financially supporting higher education. Not for the sake of the students — But, for the sake of the country. We need an educated citizenry!

  12. I am paying off my mortgage faster than I am my student loans. I have $63K worth in loans from grad school. When I graduated in 2011 all I had was $23K. I couldn't pay the loan back immediately after graduation as I only had two part time jobs. When I found a regular job 9 months later, I moved for the job which took money. I stayed at the job for almost three years. During the three years, I put the loans in forbearance. The loans collected interest while in forbearance and doubled in amount. When I moved back home, I started paying regularly and have not missed a payment…but my payments are minimal and the amount continues to grow. Last year I paid off one of my loans….but somehow my amount has not reduced by grown by $2000

  13. Honestly, pretty soon a bachelors degree will be nothing… everyone will need a masters degree for basic jobs just to be set apart amongst other candidates

  14. "People of color"? Why do I find that term offensive? Am I not a person-of-color? I have no color? What? Who just decided that white is no longer a color?

    And whatever does "African-American" mean? Somebody from Africa? So if I am white and from Africa, am I African-American? If I am black and not from Africa, am I an African-American? Why did black people allow such non-sense names to describe them? Whatever happened to "blacks" and "Negroes", which are simply a description of color? "Whites" is still a thing, isn't it?

  15. A lot of people view college as the answer because it's what everyone else is doing.Riding the bandwagon. They have imposed a sense of fear on themselves and from others forcing them to conform and follow popular trends, following commonly accepted beliefs of how to deal with finances. Don't take risks, land a secure 9-5, and be a good employee with the rest of your life. This is what 80% of our society is living like today. Putting themselves into a debt ridden life. Schools teach how to be good employees. Not to be an employer. Why climb the corporate ladder when you can own it

  16. Czech Republic, college is free. My friend studied electrical engineering, the school actually paid him, because he had top marks.

  17. College is expensive because their run by socialist trying to push the socialist agenda. Put these kids in debt and they are more then likely to vote for socialist politicians who promise elimination of these debts. Its a leftist conspiracy that is working. This is fake news.

  18. What they purposefully DON'T tell you is that you can do "income-based repayment" instead of using forbearance. So if you are making less than the Federal Poverty Level ($16,000) for a family size of two or less, your payment will be $0 and you will be classified as making on-time payments. This means you don't get all the costs and penalties of forbearance and it increases your credit score because you're making on-time payments. You have to call and ask for it, though. If anyone here is unemployed please do this!

  19. Don't go to any uni, just go to community college and get an associates degree max. BTW engineering or business are not good majors anymore, really nothing is (there is NO shortage in workforce).

    Construction is what most my friends went into after high school. I eventually got into that too

  20. If you go to college ONLY MAJOR IN STEM PROGRAMS!!! The untold part of the student debt situation is too many students get useless majors in markets that either aren’t hiring or don’t pay well or both. Here’s a quick tip: if the name of your major has ARTS, HISTORY or STUDIES in it, then its more than likely useless. Women’s studies, liberal arts, african american history etc all useless. Psychology degrees also.

  21. The reason so many kids are in debt is because their pompous parents love to play Keeping up with the Jones'. They all are raised to purposefully GO to expensive schools because those are OBVIOUSLY the best ones, right? It's all about status in America, and going to community college or trade schools are nowhere near as lucrative, and even *gasp* blue collar!!! In this internet age, there is zero reason why a person NEEDS to go into $50k-$100k+ debt, so obviously this is all willfull ignorance.
    You wanna know the real reasons?? Watch a video on this topic by Prager U or another conservative channel. Liberal CNBC is just going to give you the run around and avoid the real issues.

  22. My analysis: we are causing our own suffering.

    A college degree has only become more important because most people are pushed to get them, then do get them(or at the very least going into debt trying to get them) so you look stupid if you don’t get one.

    In reality, high school should be enough for the majority of people. It used to be that you would get training on the job, but now it is expected to walk into the interview room with a gender studies and a communications degree.

    Following through with our unrealistic and harmful expectations is causing our own problems.

    Only go to college if you know what skills you need to learn, and you have observed that only a degree can get you where you want to go.

    Theoretically if future and current generations actually sparingly attended colleges, then employers expectations would be lowered back to where they should be.

  23. Those diversity hire bureaucratic staff cost hundreds of thousands each per year, you wanted it. You got it, and now you pay.

  24. When there's another great depression, now you know whom to blame. $$$ worth of knowledge can be free if you start learning on the internet and avoid the dilemma of being looked down upon. But then again, you need a 'secure job' and so you must get a degree. I got a degree. And I have a 'secure job' but not many are lucky enough to have one. I feel like people only learn from their mistakes. I hope whatever financial crisis we are destined to face in the next couple of years (or half a decade) teaches us a lesson that you don't need a college education to become accepted in society. I'm 100% positive more and more companies will hire people who never went to college because they want to hire employees who don't take a loan of $350k. They will want to cut corners so it would be more reasonable to hire a self-educated individual who knows how to value money. I am not against getting a higher education and I fully support it. But there are so many cheaper ways to get this kind of education instead of making the biggest mistake of your life (certificate courses for example that offer a job guarantee or you get a full refund). To conclude this long passage, only go to college if: 1) you get a scholarship, 2) if you have parents who can pay for your education and yet retire so they don't end up in an old age home, and 3) if you saved enough money to take yourself to college. Everybody else take a left turn.

  25. The real question is why aren't our high schools better? We still hold onto this model with the long summer break for no reason. With all the technology available, it seems like we should be able to give students a more rigorous high school education.

  26. Here in Florida, tuition is only $6k/ year. Add to that the many of our students get bright futures, which pays for 75% or 100% of tuition, most kids at my school go to college tuition free.

  27. I watched the whole video to see if they would provide data on how the college cost structure has grown over time. Nope! Also zero mention of corrupt bankruptcy laws specifically for student loans. Good job CNBC! Not!

  28. Because the government guarantees loans of any amount for any degree for any person. If you do that for any product at all the cost will hyper-inflate. Econ 101.

  29. I have a friend he went to a college spend $50,000 for it when he finished he could not get a job that is paying more than $43,000 a year.
    Than he got another loan to buy a truck now he is a truck driver with a college and paying two loans.

  30. Since tenured professors make more than 150 000 to some several million USD per year just by teaching 5 lessons (each at most 50 minutes long) a week and rest they are claiming as doing research ?!? Of course they will try everything to sustain this system.

  31. With all due respect, don't Lawyers, Doctors, Engineers make enough over there to pay for their children college?
    I mean the average pay of a doctor in US is like 350,000 per year. So with savings done over a period of time the parents can easily manage their children's tuition and college

  32. I'm in 11th grade and am just about halfway done with my AS degree from CE classes,
    with good planning you don't need that much debt

  33. We need free college in America! do a wealth tax on the top 1%. Many nations all over this planet do not see education as a privilege!!! But a RIGHT in oder to want to be educated. America dose not have the best education system in the world. College is a corrupt money making business in the USA—- look at the fact how kids are forced to take unnecessary classes that have little to no meaning to what they want to become. It is a ridiculous way to take advantage of kids who just want an education to get a good job. Or so they are told! all that money spent they do not even have job lined up after that should also be the schools responsibilty to benefit the kids that attend.

  34. I am Chinese, the tuition fee in China is not very high( most are around 5000rmb a year). And I agree with what the blakeman has said in the last minute, because of the cheap tuition fee, many students didn't study hard and they failed to graduate.

  35. This video goes from one random thought to the next and doesn’t touch on the real cause of skyrocketing tuition costs. It’s simple. When the government loans 10’s of thousands of dollars that cannot be defaulted on to young people with little to no credit history, universities take advantage of this by inflating costs, especially administration costs. As always, the solution to a problem caused by government is more government, right?

  36. I think these kids think that going to an expensive college with a degree in higher education means instant big money. You have to be smart and look at the market. Will the degree be worth it? Is it what you REALLY want to do?? I personally think community colleges or trade schools are a much better investment.

  37. Perspective: I graduated with a Bachelor's in History back in 1992. I attended a local "branch" of a university. A semester for out of district, 12 credit hours and books, averaged $400/semester. I looked at their per semester cost in 2017. Out of district taking 12 credit hours with average cost for books was $7200.

  38. In Europe cost ( $800 ) minimum, ( $2000 ) maximum in a Public university ( community college? My English is not that good ) But the real differences btw America and Europe is that in Europe ( In Spain ) the best colleges are public, bcuz here all students in the country have to do a test to access a career, this test mix your
    high school average, the score of your high school thesis

    ( it counts like 2 subjects ) and the score of the test ( here is called ''selectividad'' ). Selectividad are tests of 4 subjects depending on where you live. And if you want to study ( for example ) medicine ($1200 ) you have to get a 13,124 ( the maximum score is 14,000 ), only if you get that score you can access to your career in a public university ( depends on the college tho ), but if don't get it you have to go to a private university ( bcuz in private universities the minimum score for ALL careers is a 5 ), here is not ''elite'', is just private, meaning that you have to pay for your education, bcuz your score was too low and you couldn't go to a public university, cause you were too lazy to study and prepare yourself for your career, you didn't strain enough and your parents have to pay for it. ( it feels like pay to win ) First option are always public colleges ( the best university here in Spain is public ) bcuz just is hard to get in.
    If don't belive me here is the scores in all colleges and how much you have to pay for it https://notasdecorte.es/medicina

  39. I graduated from Pratt Institue what a Master of Architecture Degree in 2011 with $140,000 in student debt undergrad+grad. This combined with my wife's $75,000 at the time of our wedding we owed a combined $215,000 in 2012. Working in NYC affords us jobs that pay well, but expenses are high, the cost of Childcare (x2) is nearly as much as our student loan payments. We have been smart in our moves with property purchases but without a student loan payment we would be in a much better place to save for the future, to have adequate emergency savings and all the responsible things you do with disposable income. Notwithstanding, we live well, but we are also on the brink.

  40. Honestly If We Were Right Now In The United States 1940s We All Cod Pay Every College Student Loan but Were In 2019.

  41. Put your loans in the stock market If you know how to manage the risk or If you don't well I dunno what to say you're either screwed or would get lucky.

  42. "People of color" were not denied GI Bill benefits. BLACKS were denied GI Bill benefits. Prior to 1970, Hispanics were considered white and there were few Asians in the US due to immigration bans.

  43. We need to move to an apprenticeship (job training) based tertiary education system that is more geared towards getting the education an skills needed for actual jobs in the economy. To hell with the necessary classes and the resulting extra costs.

  44. If the US didn't put so much budget on weapons and wars, free college is not a dream. But every country values different things.

  45. Tbh, only go to college if it's required for your dream job like a lawyer or doctor. Besides that, don't go to college. If you do not know what to do after high school, don't go to college. Instead, gain work experience and at the very most, go to community college for two years or take a few classes that spark your interest to see if you really want to go down that route.
    Remember, you do NOT need a bachelor's degree in order to become successful and make six figures. Do what YOU want to do, not your parents.

  46. Money corrupts. Certain sectors of society SHOULD NEVER BE up for business:
    Medical, education, housing, common foods and everyday items. When
    you mix money with whatever it is, it is inevitable that it will
    corrupt it. We're greedy by nature, so when money is in the mix, we
    naturally shift our focus and efforts toward money instead of what it
    is. That is why money corrupts, because we can't help but be greedy
    and take advantage of whatever we can for what ever reasons. If
    education, housing, and medical were up to the "free markets",
    most of the population will be on track for poverty and slave labor.

  47. I went to a great school and made good friends. The experience was great and I even paid off my debt. But looking back, I would have gone to community college for two years got my straight A's and then went where the school that gave me the most financial aid went.

    I believe we create our own opportunities. College is important for the first job but few jobs require the top University. Even so, go to a two year program. It still cuts down on costs.

    Unfortunately, a degree from anywhere does not guarantee us squat. We can all get more industry specific training from websites like udemy and pay significantly less and be more valuable on the work force.

  48. I know now that U.S. is so much fcked up is when a man said that a college education should never be free. You have to give a certain amount of "value" to it.

    I have seen European countries like Germany and Finland, and I saw life is definitely better in there than in U.S. They have free education for their citizens. Coming from a 3rd world country myself makes me envious in how they can provide high quality education for free for their people.

  49. You never really touched on why of the outrageous raising cost. The game of loans, lies, social political dogma zealotry on campus, other misleading information to fool students, the A.action bias, predator pricing by schools.

    Finally made it through the red tape for my GI bill. An still amazed at the cost of school. The books, tools, basic cost if living, and other elements.
    Tax payers should not pay for another's debt.

  50. Systemically all state and non profit schools are redirecting student focus with liberal beliefs and demands. Why? For free college which will make those colleges the most secure colleges from sustainability issues. People the writing is on the table. Yeah you won’t pay for the degree but when you get out and can’t get the high paying job you hoped your check at McDonald’s will be half tax. Dang i can’t pay rent but those tax dollars will make sure my living gets subsidized. Etc,etc,etc. this is not the path to a prosperous, happy life. How does this not make sense to some?

  51. If everyone goes to college, doesn't it dilute the worth? Who is going to do all the manual labour jobs people think are below them, then?

  52. The reason is they keep bringing in foreign students on the expense of Americans. Just look at the percent of foreigners in universities over 50% in many of the top schools. Why> Because they are willing to pay more. Americans lose form that deal.

  53. Why is college so expensive in the states???????? I accumulated around 36k in fee which equals to 23k USD. But I had the luxury of commuting from my parents place as it was in the same city……got some scholarship and cleared my debt in 3 years post graduation.

  54. Why is it expensive? For the same reason Healthcare is expensive… Government got involved… And now we pay Bidens kids and all the other politicians friends and families, to sit in an office and do nothing… For $200k a year.

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