I was lucky when I went to college. Tuition was low enough that my parents were able to foot the bill. My kids were similarly lucky. If they were graduating now, they would probably not be as lucky.
The NY Times had a very disheartening story about the costs of today's college education. They have become so high that graduates are almost forced into a form of servitude. Here's a summary of the situation:
1. The number of students who have to go into debt to get a bachelor’s degree has risen from 45% in 1993 to 94% today.
2. There is now more than $1 trillion in outstanding student loan debt in the United States.
3. Over the last 10 years, tuition and fees at state schools have increased 72%.
4. During the late 1970s, Ohio spent 17% of their
budget on higher education and 4% of prisons. Today, Ohio spends 11% on
higher ed and 8% of prisons.
5. This year, national, state and local spending on higher education reached a 25-year low.
Then, there is always the question as to how many of these kids will really benefit from the education. Would the nation be better off if some of these kids did not go to college but did whatever their spirit moved them to do?