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(Score: 0) by Anonymous Coward on Monday May 30 2022, @03:01AM
(1 child)
by Anonymous Coward
on Monday May 30 2022, @03:01AM (#1248890)
it was more like 1980 when the huge tuition increases started.
And the huge tuition increases are the direct result of too much "student loan" money.
When students pay for their schooling with free money (and to an 18 year old, a student loan is "free money" -- few yet even begin to understand what a "student loan" means, they lose all desire to care one bit what their school of choice charges per year.
When the schools learn that the students are no longer price sensitive, they realize they can charge whatever they want, and the students will just pay (by pulling in more "free money") whatever the school asks, then the schools all start increasing their tuition at a rapid pace, in order to grab more of that "free money".
The sad part is that this very exact scenario is taught, in those same schools, in the Econ. department, when the economic theory gets brought out that pumping too many free dollars into a market leads to rampant price inflation. The student loans pumped loads of dollars into the university tuition market, and what was the result? Rampant inflation of the costs of college. Just exactly like the Econ. theory predicts.
(Score: 0) by Anonymous Coward on Tuesday June 07 2022, @09:41PM
by Anonymous Coward
on Tuesday June 07 2022, @09:41PM (#1251387)
You could not be more correct. In fact, I took 3 econ courses and learned all that good stuff.
Every time a school or "education system" whines about needing more money and raising taxes, all I can think about is how the greedy leeches latch on and soak up more of the $. Same goes for medicine of course. It's a runaway system.
I feel strongly that econ should be required courses in much or most of K - 12, certainly high school. I have to wonder how different (better?) the US and maybe the whole world would be if people were more in tune with economic forces, power of money, etc. Instead of buying the cheapest thing possible at X-mart, buy that slightly more expensive, made in somewhere other than China thing, for the betterment of the future for all.
(Score: 0) by Anonymous Coward on Monday May 30 2022, @03:01AM (1 child)
And the huge tuition increases are the direct result of too much "student loan" money.
When students pay for their schooling with free money (and to an 18 year old, a student loan is "free money" -- few yet even begin to understand what a "student loan" means, they lose all desire to care one bit what their school of choice charges per year.
When the schools learn that the students are no longer price sensitive, they realize they can charge whatever they want, and the students will just pay (by pulling in more "free money") whatever the school asks, then the schools all start increasing their tuition at a rapid pace, in order to grab more of that "free money".
The sad part is that this very exact scenario is taught, in those same schools, in the Econ. department, when the economic theory gets brought out that pumping too many free dollars into a market leads to rampant price inflation. The student loans pumped loads of dollars into the university tuition market, and what was the result? Rampant inflation of the costs of college. Just exactly like the Econ. theory predicts.
(Score: 0) by Anonymous Coward on Tuesday June 07 2022, @09:41PM
You could not be more correct. In fact, I took 3 econ courses and learned all that good stuff.
Every time a school or "education system" whines about needing more money and raising taxes, all I can think about is how the greedy leeches latch on and soak up more of the $. Same goes for medicine of course. It's a runaway system.
I feel strongly that econ should be required courses in much or most of K - 12, certainly high school. I have to wonder how different (better?) the US and maybe the whole world would be if people were more in tune with economic forces, power of money, etc. Instead of buying the cheapest thing possible at X-mart, buy that slightly more expensive, made in somewhere other than China thing, for the betterment of the future for all.