Check out what readers had to say about Executive Editor Heather Anderson's latest column, "People Helping People Is Not a Free Ride." The following comments were originally posted on cutimes.com and CU Times' Facebook page:
"To be fair, comparing the relative burden of college in the early 1990s versus today is kinda like comparing apples and oranges, considering the fact that the cost of college has increased at approximately 2.5 times the cost of inflation. As with mortgages, the federal guaranteeing of student loans has artificially pumped up the cost of education to many times its value, and, as a result of this market distortion, default will be pretty much the only option for an increasing portion of people until the education bubble pops. But with federal money propping it up, and marginally financially-literate 18-year-olds entering into what is often a lifetime of debt peonage, odds are the situation is only going to get worse and projects like Strike Debt will look ever more appealing.
"Since 1985, the overall consumer price index has risen 115% while the college education inflation rate has risen nearly 500%. According to Gordon Wadsworth, author of The College Trap, '…if the cost of college tuition was $10,000 in 1986, it would now cost the same student over $21,500 if education had increased as much as the average inflation rate, but instead education is $59,800 or over two and a half times the inflation rate.'
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.