by tovarichpeter ➕follow (6) 💰tip ignore
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Most of the time we're talking about 25 to 35 thousand dollar loans. I don't know why these loans have to be so debilitating.
One of my good friends is sending his son to University of Chicago this fall. Tuition is something like $72,000/year. This, on top of sending his daughter to private school here in the Los Angeles area for something like $30k/year. Here's the funniest part- he makes like $250-300k a year and qualifies for need-based financial aid.. in this environment, he's one of the poors. It's lunacy.
Perhaps not, except that average income had stagnated for way too long against tuition rates that continue to climb unabated.
People using other people's money to purchase something that they don't have enough money for currently invariably causes that something to go up in price.
People should have used their intellectual capacity and lived at home and gone to state colleges where their student loan would be less than the price of an average new car.
Nobody ever holds a gun to anyone’s head to take out a school loan.
Sometimes the public is too dumb
Evan F. saysOne of my good friends is sending his son to University of Chicago this fall. Tuition is something like $72,000/year. This, on top of sending his daughter to private school here in the Los Angeles area for something like $30k/year. Here's the funniest part- he makes like $250-300k a year and qualifies for need-based financial aid.. in this environment, he's one of the poors. It's lunacy.
UIUC is a very good school and tuition there is about 15K a year - 4 yrs there would cost less than 1 year at U of Chicago. + Urbana-Champaign is not that expensive town.
Why did tuition rates rise so quick?Education Act of 1965. Like all other components of the Great Society, it was purported to solve all the problems of human existence, this one paying for higher ed.
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