A Generation of Serfs: Tuition, Loans and Feudalism
On October 25, 1415, Henry
V of England laid some
serious hurt on the French at the Battle of Agincourt at Pas-de-Calais , France
An indenture was a document, written in duplicate and
then torn along a jagged line, like little teeth (dents), in the paper. One
portion of the contract was in possession of each party and when the required
conditions and period of service were fulfilled, the parts reunited and the
debt was considered paid. Many of the
people who first came to this country from England
Today we are creating a nation of not indentured
servants, someone with a carefully delineated term of service, but serfs,
people hopelessly and forever tied to the land that gives them sustenance. I am talking about the crippling debt our
students owe the government for their college education.
This
serfdom was not planned, but is the result of the insidious and omnipresent law
of unintended consequences. I sigh, roll
my eyes and wag a cautionary finger at people who are sure they can, “make
things better” by enacting laws and passing out other people’s money, but I
don’t hold them in contempt. That is
reserved for people who choose to capitalize on the error; in fact, they
nurture the mistake, growing it in their favor, and work hard to make sure that
no one ever finds out that there are rats eating the insulation! In this case, I am talking about the effete
dilettantes that make up American college administration.
Let me try just three numbers for example, each of these
numbers are adjusted for inflation. They
represent averages for tuition, room and board at public colleges. In 1964
(the year I started college) the yearly cost was $950. By 1990 that figure was $4757 (118% the rate
of inflation). In 2007 the cost was up
to $11,034. That is 173% of the rate of
inflation! Why are these costs now
almost doubling the rate of inflation and outstripping the means of middle class
families?
According to Richard Vedder, professor of economics at Ohio University
We can not allow our students to be made serfs to the
feudal lords of government and academia.
First, right the wrong already done. Retroactively, for each year that a student has
paid on his student loan, 10% of it should be forgiven by the government. That also means that in 10 years all debt
would be removed (indenture, not serfdom).
Next, prevent further abuses by colleges. Public universities have been offering published
professors low case loads, alumni splashy sports programs and trustees anything
they want. I have seen no evidence that anyone’s education has improved through
this regimen.
Discount the loans, discipline the colleges and let our
students keep the faith.
Comments
Today, a majority of college students, take 5 or 6 yrs. to complete a 4 year degree. Thus they add quite a few dollars to their loans.
I have put 3 children through college. All 3, after the first year in a dormitory, argued to move into an off campus apartment. Their point was they would save money by sharing expenses with 4 or 5 roommates. The actual cost was alway higher. I was fortunate enough to be able to afford paying for my children's education and provide them with some of the extras. My limit was I would pay for, room, board, and tuition, I would provide no allowance for beer money. All had to work during the summer and save spending money for the school year.
Of course all three kids needed cars on campus. Another added expense.
I trained 4th year Optometry interns. All of them took out loans, all drove late model cars. During vacation times the talked about trips to warm weather places. They were using student loans to maintain a life style of a working adult.
There are many technical schools advertising great careers in health care, computers, and so many other fields. The average student signing up for these "Tech Schools" is an untrained high school graduate or maybe drop out, and does not finish the program. Many of them default on their loans.
College professors want raises, colleges must provide the latest technology and yes, entertainment. Their costs are rising. Perhaps the problem is not colleges pandering to students as much as student demanding more from their college.
I believe higher education is not for everyone. Some people need trade school and others need to flip hamburgers. We should not expect we are to good for these jobs if we are not willing to allow undocumented aliens to live her and do the jobs. I have met to many young American late teens that are willing be on welfare rather then take those jobs.
Universities are like any business trying to survive. I think one of the problems is with parents with great expectations for there children, and children who think it owed to them.