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Saturday, May 20, 2017

Cost of college explained

     The United States came out of World War II with the commitment to providing college educations to veterans and those unable to afford the cost.  This trend continued through most of the 1960's and 1970's.  Costs at public colleges was heavily subsidized.  I was a beneficiary of this reality when I only had to pay $500 a semester in both undergraduate and graduate college.  Easy to obtain scholarships allowed me to graduate with money in the bank from working summers and no debt.
   

     Just at a time when a higher education is needed more than ever the reality is that funding for college is falling behind the cost of college.  Student loan debt in the United States is now second to only mortgage debt.  Students now owe more than a trillion dollars in student loan debt.  Here is a link to explain why student debt is so high.   Some countries provide free college educations.  New York is now poised to be the only state to offer a free public college education
      This trend doesn't seem likely to change as long as our priorities for funding seem to be misdirected.  
 


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