In 2003, only two colleges charged more than $40,000 a year for tuition, fees, room, and board. Six years later more than two hundred colleges charged that amount. What happened between 2003 and 2009 was the start of the recession. By driving down endowments and giving tax-starved states a reason to cut back their support for higher education, the recession put new pressure on colleges and universities to raise their price.
When our current period of slow economic growth will end is anybody’s guess, but even when it does end, colleges and universities will certainly not be rolling back their prices. These days, it is not just the economic climate in which our colleges and universities find themselves that determines what they charge and how they operate; it is their increasing corporatization.
If corporatization meant only that colleges and universities were finding ways to be less wasteful, it would be a welcome turn of events. But an altogether different process is going on [more inside]
posted by the man of twists and turns
on Nov 14, 2012 -
Since 2005, it has been nearly impossible to discharge student loans in bankruptcy. HR 2028
aim to make private student loans again dischargeable in bankruptcy. [more inside]
posted by gauche
on Aug 3, 2011 -
Put another way, the company that owns The Washington Post is almost entirely at the mercy of the Federal Government and the Obama administration -- the entities which its newspaper ostensibly checks and holds accountable. "By the end of 2010, more than 90 percent of revenue at Kaplan’s biggest division and nearly a third of The Post Co.’s revenue overall came from the U.S. government." The Post Co.'s reliance on the Federal Government extends beyond the source of its revenue; because the industry is so heavily regulated, any animosity from the Government could single-handedly doom the Post Co.'s business...
-- Glenn Greenwald examines WaPo's entanglement with for-profit education
posted by hippybear
on Apr 12, 2011 -
Is student loan debt destroying your life?
Loan indebtedness has increased 66% since 1997. It's hard to feel too sorry for Yale Law grads making $100,000+, but I know real people with salaries in the mid-40s making payments in the range of $1600/mo. (And that's over 30 years.) When will policymakers realize that this is going to have substantial consequences for our economy and quality of life?
posted by MikeB
on May 14, 2003 -
Ted Rall says that college loans are killing America.
I'm inclined to agree. At just $14,736, I'm on the lighter-side of college loan debt, but being a single father, I have a hard time making a dent. Ted makes some salient points about young adults who are struggling to make money in a recession. They don't work for the Peace Corps, they don't volunteer, etc. Even China criticizes America on our insistence that students endebt themselves to corporations just for education.(via fark
posted by taumeson
on Feb 11, 2003 -