@historyinmemes When the government took control of college loans , thanks to Obama, then the supply of $$$ for college loans skyrocketed along with the cost of tuition. The only thing that went down was the quality of the degree. The system is rift for failure.
the siple "minimum wage vs tuition" comparison hides several structural changes that make 1978 a different category than today
1978 had ~14% of high schoolers going to 4-year college vs ~35-40% today, federal financial aid was nearly nonexistent then vs hundreds of billions in grants and loans now, universities have massively scaled administration, facilities, and services, the price of "the same product" hides that the product changed substantially
the actual story is tuition outpacing wages by a huge factor AND cost structure expanding AND federal aid infrastructure enabling pricing power, "kids today have to work harder for school" is true and incomplete, the structural answer is universities responding to demand that loans guarantee rather than minimum wage failing to keep u
True. In 1973 I paid $14.50 per SEMESTER hour in California as a state resident for tuition. Minimum wage was $1.65 an hour and I worked part-time as a gas station attendant at a Shell station. Nowadays, colleges are businesses first, not institutes of higher learning. One of several reasons not to waste your time studying at a university. Study what you need online using AI. Cheaper, faster, and WAY better.
@historyinmemes When Obama took over Sallie Mae and federalized student loans, Universities larded up the payroll with administrators at every level, built grand facilities, and introduced all manner of social engineer programs like DEI.
@historyinmemes Woke BS courses now mandatory
College football players earning millions
Books - usually written by the professors - are hundreds of dollars “and this year’s edition is mandatory”
Professors make a fortune
And wherever the Federal Government “guarantees access”, prices rise
@historyinmemes There was a time when a summer job opened the door to education; today, the cost of education pushes many toward debt. How much times have changed.
@historyinmemes Universities have multiplied their tuition because taxpayers have been funding it.
That needs to stop.
The education is not worth anywhere near the amount being charged in terms of ROI.
@historyinmemes 260 hours of work covered a year of tuition in 1978. Today it takes 1,500. Productivity rose across the economy the entire time. Tuition should have come down. It went up. Same pattern as housing and healthcare. Three sectors, one direction.
https://t.co/9adpdzPPqv
When the Federal government involves itself in loans it basically created the incentives for colleges to price gouge on an astronomical level. Same incentives created the housing crisis & bubbles that actually burst and we still pay in the end only we end up in worse debt every time the Feds offer to fix something. It wasn’t broke, they broke it. It requires maturity to take out huge loans to own & maintain a home, same with an education.
@historyinmemes They took bankruptcy and other protections away, weaponized the loans, which caused hyperinflation.
They turned colleges into a financial scam.
"THEY" = The colleges, the Dept of Education, the $ changers.
Duke Energy... like most energy companies are engaged in acts of Fraud, Extortion, Racketeering and they expect that their political connections will protect them to help rake in illicit profits!
Public hearing over proposed Duke Energy rate hikes https://t.co/1HLxl4vK9d
Ford has done it again! How long will you have to wait for parts to be ordered or for your vehicle to be fixed? Will Ford have a loaner vehicle ready for you to get to work while they fix yours?
Ford tells Bronco Sport and Maverick owners to stop driving https://t.co/QuD5nC4WKY
This guy is nothing more than an Obama 2.0. He doesn't even have his own character - he's a total Obama poser! America's history will never remember this idiot.
FULL: House Minority Leader Hakeem Jeffries press conference https://t.co/8ylxlP7URh
All because states and their Attorneys General do a very poor job in policing, investigating, prosecuting, and holding accountable staff & owners of nursing homes!!!
A new DOJ toolkit could turn EMTs, cops into nursing home watchdogs https://t.co/zEA8tFVKQL
Meanwhile - the mayor and governor allow for dangerous people to attack innocent people on a massive scale on a daily basis and the media remains silent! 🙄 Stay Strong Patriots!!! 💪
Albany Park community demands answers after reported ICE detention https://t.co/UQJ8OlAPGG
Energy companies - like insurance companies - regulated only on paper but stocks are owned and traded by the politicians and their family members who decide our fate!!!
This Michigan power company is looking for a $456M annual rate hike, plus surcharges https://t.co/SdO9GwH5oe
No matter how glorious our sacrifice for our country community as Soldiers, Police Officers, Firefighters, Teachers, etc... insurance companies see us as cash cows for premiums & liabilities for payouts - they don't care about us really!
Source: YouTube
https://t.co/t3UkuCMLrQ
White people are being slaughtered by those of a different skin color as their actions are being dismissed as a cultural sensitivity or religious excuse... this should never be tolerated!
Hampshire police chief apologises to Henry Nowak's family https://t.co/AcXWY6wSpu