30 Apr 2014 adminPS
If elected I support:
We must make college affordable again by benchmarking 1975. Inflation has increased 4.39 times since 1975. Force colleges to use ground based accounting. Tear apart costs one by one. If the head football coach made x-multiply it by 4.39, if there were three assistant coaches-cut funding to three coaches. If there were 45 students per administrator and now there are 15, allow money for the 45 to one ratio, etc. Continue this for the entire campus. The state then needs to force colleges to present a plan to match 1975 cost levels (adjusted for inflation) or lose state funding.
We simply must drastically reduce the cost of a college education.
Until recently, America had the unquestioned world lead in universities. In just a generation, the university system has taken advantage of huge student loan programs and sold the nation on the premise that everyone had to have a college education. The result is that tuition has increased fivefold in inflation adjusted terms since 1975.
The clearest example is private school college costs since they are not muddied by state contributions. In 1975, a student working for two months every summer at a job paying twice the minimum wage could pay for 50% of his or her education. A graduating school teacher could pay off the other 50% by working for four and a half months after graduation. In 2013, a student working at a job paying twice the minimum wage could pay 11% of his or her college expense. A school teacher graduating in 2013 would take four years to pay off college expenses.
Middle class parents have to make a choice between saving for own retirement and paying for their children’s education. The only reasonable choice they can make is to save for their own retirement and have the children take out a loan. The children can always repay a loan, but if parents pay for college, they will deplete all of their retirement savings without a realistic chance to replenish them.
Colleges are educating far too many students. Recently it was estimated that 48% of college graduates are working in jobs which do not require a college education. Many of these workers have huge student debt loads. Nationally, total student debt is reaching $1.2 trillion.