Salon.com > College tuition

We must hate our children

Mon, 01 Jul 2013 11:45:00 +0000

Next time you’re watching a college graduation, as you look out over the sea of caps and gowns, make sure you notice the ball and chain most graduates are wearing as they march onstage to receive their diplomas. That’s student loan debt, which at over $1 trillion tops credit card debt in the U.S. today. The average burden is $28,000, but add in their credit cards and they’re graduating with an average of $35,000 in debt. It’s no wonder that people who’ve paid off their student loan debt are 36 percent more likely to own homes than those who haven’t, according to new research by the One Wisconsin Now Institute and Progress Now.

What kind of society sends its young people from higher education into adulthood this way? I’m aware I’m only talking about those lucky enough to go to college, when roughly one-third of high school graduates don’t – but if this is the way we treat our relatively lucky kids, the rest of them don’t have a prayer. For many, the school to prison pipeline functions much more efficiently than the school to college one; California is one of at least 10 states that now spends more on prison than higher education. According to the Federal Reserve Bank, two-thirds of college graduates leave with some debt, and 37 million Americans are repaying a student loan right now.

Thanks for nothing, college!

Sun, 30 Jun 2013 14:30:00 +0000

In the latest episode of "Congress Comes Together to Screw Millennials," we get news that, unless the Senate acts soon, Stafford Loan interest rates will automatically double this coming Monday. I doubt anyone is particularly surprised, given the state of our national politics; our traditional 3.4% interest rate will just become the most recent casualty of the crippling stasis that defines American politics in 2013.

And yet, if this higher interest rate convinces even a few 18-year-olds not to take on huge debt for that Musical Theater degree, maybe it's not so bad. As college tuition costs rise and students' debt levels follow, a chorus of voices has come to defend the noble bachelor's degree against those willing to question the laughable notion that college is a good investment, period -- regardless of out-of-control tuition costs, stagnating wages or ominous federal jobs reports.

Your student loan isn’t really a loan

Wed, 05 Jun 2013 11:45:00 +0000

It’s becoming an annual ritual. Every June, Congress debates what to do about the interest rate on federally subsidized student loans, to avert what this year will be the imminent doubling from 3.4 percent to 6.8 percent. But interest rates alone don’t tell the whole story.

At a time when overall student debt approaches $1 trillion, the facts reveal that student loans aren’t loans, not in the traditional sense. They exhibit none of the qualities of modern consumer financial instruments, and are often sold under false pretenses, with the promise of a lifelong benefit that never materializes. We need to change how these loans work and have a broader conversation about what we should be doing -- including bankruptcy and refinancing -- to help future generations obtain a quality, affordable education, which is critical to our economic future.

College tuition’s hidden charges

Sat, 30 Mar 2013 12:00:00 +0000

  At the University of California, Santa Cruz, where tuition runs to nearly $35,000 for non-residents, students every year pay more than 30 additional fees — including a small charge for what's billed as "free" HIV testing. Students at Oklahoma State University pay a handsome sum to attend one of the state's flagship schools, but they are also responsible for covering 18 different fees, including a "life safety and security fee."

The $100 "globalization fee" at Howard University is listed — without explanation — in the school's tuition and fees brochure. A school spokeswoman said the fee "supports internationalization initiatives" such as study abroad. Students pay the fee even if they have no intention of studying abroad themselves.

Poll shows support for “Dream Act”

Tue, 23 Oct 2012 18:37:00 +0000

Leading up to the November vote, a recent Washington Post poll found that Maryland voters broadly support a variation of the “Dream Act,” that will allow undocumented immigrants to pay in-state tuition at public colleges and universities. If the measure passes in November, it will become the first statewide vote for a version of the law.

According to the poll, the initiative has garnered widespread support from Maryland Democrats and independents, while Republicans oppose the law by about 2 to 1. 58 percent of Maryland independent voters and 75 percent of Maryland Democrats support the measure.