Holy shit! I pay €6000 per year and I already think that’s massively expensive… it is more expensive that regular universities in NL, because my school is private, e.i not funded by governmen. Funded schools cost like €2000…
US higher education is uber expensive because whenever americans put something in between the service being delivered and how it is paid, it is out of sight out of mind. The borrowing doesn’t feel real because repayment is deferred. Universities love money and they figured out that they can jack up the tuition and build lots of buildings and hire lots of useless administrators because it is all borrowed money without any kind of reasonableness applied. You would think the US government would demand due diligence not just from the borrower but also from the institution not to waste that money.
You would think so, but it was US state and federal governments that changed a working system with government subsidies for state schools into a loan shark feeding frenzy. They dropped government funding of state schools and changed the law so that it was difficult to shed their student loans in a bankruptcy.
The government doesn’t work for us because we keep electing people who don’t work for us.
Also the borrowers are generally 18-22 year olds who received little to no education in financial literacy beforehand, AND have been told that college is their only shot at a “real” job. It’s a group that’s preyed upon pretty severely.
Holy shit! I pay €6000 per year and I already think that’s massively expensive… it is more expensive that regular universities in NL, because my school is private, e.i not funded by governmen. Funded schools cost like €2000…
US higher education is uber expensive because whenever americans put something in between the service being delivered and how it is paid, it is out of sight out of mind. The borrowing doesn’t feel real because repayment is deferred. Universities love money and they figured out that they can jack up the tuition and build lots of buildings and hire lots of useless administrators because it is all borrowed money without any kind of reasonableness applied. You would think the US government would demand due diligence not just from the borrower but also from the institution not to waste that money.
You would think so, but it was US state and federal governments that changed a working system with government subsidies for state schools into a loan shark feeding frenzy. They dropped government funding of state schools and changed the law so that it was difficult to shed their student loans in a bankruptcy.
The government doesn’t work for us because we keep electing people who don’t work for us.
Also the borrowers are generally 18-22 year olds who received little to no education in financial literacy beforehand, AND have been told that college is their only shot at a “real” job. It’s a group that’s preyed upon pretty severely.