heinleins-ghost:mounmantaka:this-is-cthulhu-privilege:bigdenbo:prismatic-bell:gahdamnpunk:This is wh
heinleins-ghost:mounmantaka:this-is-cthulhu-privilege:bigdenbo:prismatic-bell:gahdamnpunk:This is why baby boomers think we can pay for school while having a part time jobIf you were curious, that’s $714.33 in 2018 numbers.It’s also approximately what I make for two weeks’ Labor.If you only make 714.33 every two weeks, sorry for your luck. Strive to be better. How much tap water do you drink?Also by making loans and grants for college easier they basically made it so colleges could charge more. Take them away and colleges won’t have a market, so they’d have to charge less or close down. Simple fucking economics.Nearly all student loans in the US are federally guaranteed. This means the banks have zero liability, as if you default, the govt will pay them, and act as collector to come after you for the balance. If the banks have no liability, they’ll happily hand out cash for whatever you want, many times knowing full well that your degree in sixth century ornithologists feminist theory won’t ever in any way lead to a financially stable career. Because the universities know you have large sums of cash, given easily, and that you’ll pay whatever they charge, they hike tuition and book rates astronomically (lots of cash supply, and even more college demand). Like nearly all problems in this country, it stems from banks, government, and private industry (for profit schools) conspiring to fleece entire generations while selling them effectively nothing. The emperor has no clothes and no one cares. -- source link
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