Anecdotally, I have taught as an adjunct professor off and one for 20 years...my per/semester pay for that has gone up 0.00% in those twenty years....the increase in college costs is not coming from wage increases for faculty, that's for certain.
I don't want to sound harsh, but this reflects what the majority of Americans apparently value. Sports programs = high value. Professor pay = no value. I've had so many arguments with people who insist that sports programs bring so much money to universities, but they never believe me when I say that money doesn't flow to education or professors.
President Biden's SAVE plan cancelled more than $116 billion in student loan debt for 3.4 million Americans. Check this map to see where this relief for students went.
I wonder how many physicians enter the public service loan forgiveness program? I am concerned about impact on prospective medical students. There is already a shortage of primary care physicians in the states that they are trying to address with NPs and PAs. It is an especially bigger issue in rural areas. Who would take on med school debt knowing one avenue of loan forgiveness has been closed off to them?
Now I am curious about their plans for residencies, since Medicare pays for that. Medicare is the reason there are not more much needed residencies. Are they going to privatize that, too?
This country is going to be a mega shit show if this idiot is reelected. Just look at Argentina.
They plan to privatize Medicare. And medical school debt is massive. It costs so much money to become a doctor. When I had my consulting practice, I had doctor clients who were drowning in debt. Not just medical school debt, but also debt to set up their own practices. The cost of supplies and equipment was obscene. Which is why so many big conglomerates are buying up practices. These doctors are being suffocated by debt, and they eventually buckle to the allure of being out from under it.
Personally, I don't think the billionaires behind Project 2025 and the Republican Party care whether we "common people" have doctors. Or homes. Or education. Or food. Or anything that might make our lives tenable. They care that we run on the hamster wheels they set for us, pump more billions into their portfolios, have as many babies as humanly possible, and live miserable compliant little lives.
You are correct, they don't give a fuck about the rest of us 99%'ers. College should only be for the rich in their opinion, the rest of us can work for hourly pay, living paycheck to paycheck.
#4. "We once justified the cost of servicing student loan debt by the corresponding salary bump provided by a college degree. Wage growth averaged 6.19% from 1960 to 2024, while the cost of a 4-year degree rose 169% between 1980 and 2020 (see bullet 1 above.)"
The above is exactly the problem, I didn't realize it was so significant but I knew the cost of going to college was way more than it was when I went in 1994. Employee wages haven't risen this much, and we would still have to factor in rent or your first house or condo. It definitely should not be this expensive to get a college degree...in other countries it is free. Bernie Sanders had that figured out years ago.
These colleges must be making a shitload of money..... not only are 80 to 90% of their expenses covered by the federal government, but every single student is paying through the nose. This is as egregious as CEO salary now versus 50 years ago, I read that CEO salary has gone up nearly 350%...... but the normal employee salary most certainly has not. As you know any publicly traded company has to release executive salaries. The Ford CEO makes nearly $27 million, but he didn't want to give a penny to the UAW.
And contrary to what the Republicans try to say, student loan forgiveness is not funded through taxpayers.
I can’t tell you how many times I’ve been on a writing residency, and a fellow creator from the US told everyone they had $250K in student loan debt. Every other nationality in the room is always floored. No other country does this to people. Also, practically every person who announced this was female. This system is predatory and abominable.
Actually I think I was wrong on my previous statement, the student owned forgiveness gets added to the US deficit - - but certainly this country waste more money on other programs like Black Ops military industrial complex. Lol.
Corporate America and tge wealthy already do not pay enough taxes so it could easily be offset there. The lenders themselves should absorb some of it too, they make tons of money off loans and compounding.
I’ve said this numerous times but never here, so boom.
We could eliminate the deficit in one day if we did Biden’s billionaire tax AND took every US Congress member’s campaign war chest. These campaign war chests are really taxes the rich avoided by buying off our politicians. It is obscene that Americans put up with this system.
Oops, I should have read a bit further before asking. We need to return to free taxpayer funded universities, like UCLA was before Gov Reagan got pissed off at the
“entitled, hippie, protesters” that he thought had too much time on their hands, & that instead of protesting the war & racial inequality, they could just get a job & pay for their own education.
The student lenders are most definitely predatory & the govt allowing that to come into being has been partially responsible for the rapid spiraling of the cost of college.
Our govt has, by & large, been taken captive by oligarchs & their money & is failing the majority of its citizens.
All of us simply must get better at interacting with our representatives & holding them accountable
Yes, we definitely need to get back to free universities- - I don't know how my nieces and nephews are going to make it. Capitalism is out of control in this country. Everything is about shareholder value.... too few companies practice stakeholder value, stakeholder bring tge employees, the communities, the environment. The US is so very regressive. I watched a good show last night on Netflix that you would like, but you may have already seen it: You Are What You Eat, Twin Experiment. I mentioned it here because it goes into great detail about CAFO's.... and the chopping down of the Amazon jungle for cattle grazing.... farmed fisheries, Etc. It all goes back to extreme capitalism; when people, animals and the environment have to compete with profits, all 3 lose.
Wage growth averaged 6.19% from 1960 to 2024, while the cost of a 4-year degree rose 169% between 1980 and 2020 (see bullet 1 above.).
Wage growth averaged 6.19% from 1960 to 2024, while the cost of a 4-year degree rose 169% between 1980 and 2020 (see bullet 1 above.).
Wage growth averaged 6.19% from 1960 to 2024, while the cost of a 4-year degree rose 169% between 1980 and 2020 (see bullet 1 above.).
This sentence bears repeating over and over and over.
It's insanity. Every American should be outraged by this.
Anecdotally, I have taught as an adjunct professor off and one for 20 years...my per/semester pay for that has gone up 0.00% in those twenty years....the increase in college costs is not coming from wage increases for faculty, that's for certain.
I don't want to sound harsh, but this reflects what the majority of Americans apparently value. Sports programs = high value. Professor pay = no value. I've had so many arguments with people who insist that sports programs bring so much money to universities, but they never believe me when I say that money doesn't flow to education or professors.
President Biden's SAVE plan cancelled more than $116 billion in student loan debt for 3.4 million Americans. Check this map to see where this relief for students went.
https://thedemlabs.org/2024/01/11/billions-in-student-loan-debt-relief-from-biden-harris-programs/
Thanks for sharing this info, Deepak. It bears repeating over and over and over.
I wonder how many physicians enter the public service loan forgiveness program? I am concerned about impact on prospective medical students. There is already a shortage of primary care physicians in the states that they are trying to address with NPs and PAs. It is an especially bigger issue in rural areas. Who would take on med school debt knowing one avenue of loan forgiveness has been closed off to them?
Now I am curious about their plans for residencies, since Medicare pays for that. Medicare is the reason there are not more much needed residencies. Are they going to privatize that, too?
This country is going to be a mega shit show if this idiot is reelected. Just look at Argentina.
They plan to privatize Medicare. And medical school debt is massive. It costs so much money to become a doctor. When I had my consulting practice, I had doctor clients who were drowning in debt. Not just medical school debt, but also debt to set up their own practices. The cost of supplies and equipment was obscene. Which is why so many big conglomerates are buying up practices. These doctors are being suffocated by debt, and they eventually buckle to the allure of being out from under it.
Personally, I don't think the billionaires behind Project 2025 and the Republican Party care whether we "common people" have doctors. Or homes. Or education. Or food. Or anything that might make our lives tenable. They care that we run on the hamster wheels they set for us, pump more billions into their portfolios, have as many babies as humanly possible, and live miserable compliant little lives.
You are correct, they don't give a fuck about the rest of us 99%'ers. College should only be for the rich in their opinion, the rest of us can work for hourly pay, living paycheck to paycheck.
#4. "We once justified the cost of servicing student loan debt by the corresponding salary bump provided by a college degree. Wage growth averaged 6.19% from 1960 to 2024, while the cost of a 4-year degree rose 169% between 1980 and 2020 (see bullet 1 above.)"
The above is exactly the problem, I didn't realize it was so significant but I knew the cost of going to college was way more than it was when I went in 1994. Employee wages haven't risen this much, and we would still have to factor in rent or your first house or condo. It definitely should not be this expensive to get a college degree...in other countries it is free. Bernie Sanders had that figured out years ago.
These colleges must be making a shitload of money..... not only are 80 to 90% of their expenses covered by the federal government, but every single student is paying through the nose. This is as egregious as CEO salary now versus 50 years ago, I read that CEO salary has gone up nearly 350%...... but the normal employee salary most certainly has not. As you know any publicly traded company has to release executive salaries. The Ford CEO makes nearly $27 million, but he didn't want to give a penny to the UAW.
And contrary to what the Republicans try to say, student loan forgiveness is not funded through taxpayers.
I can’t tell you how many times I’ve been on a writing residency, and a fellow creator from the US told everyone they had $250K in student loan debt. Every other nationality in the room is always floored. No other country does this to people. Also, practically every person who announced this was female. This system is predatory and abominable.
I’m pretty financially savvy, but I don’t know the answer….where do the funds come from to forgive student debt?
Actually I think I was wrong on my previous statement, the student owned forgiveness gets added to the US deficit - - but certainly this country waste more money on other programs like Black Ops military industrial complex. Lol.
Corporate America and tge wealthy already do not pay enough taxes so it could easily be offset there. The lenders themselves should absorb some of it too, they make tons of money off loans and compounding.
I’ve said this numerous times but never here, so boom.
We could eliminate the deficit in one day if we did Biden’s billionaire tax AND took every US Congress member’s campaign war chest. These campaign war chests are really taxes the rich avoided by buying off our politicians. It is obscene that Americans put up with this system.
Oops, I should have read a bit further before asking. We need to return to free taxpayer funded universities, like UCLA was before Gov Reagan got pissed off at the
“entitled, hippie, protesters” that he thought had too much time on their hands, & that instead of protesting the war & racial inequality, they could just get a job & pay for their own education.
The student lenders are most definitely predatory & the govt allowing that to come into being has been partially responsible for the rapid spiraling of the cost of college.
Our govt has, by & large, been taken captive by oligarchs & their money & is failing the majority of its citizens.
All of us simply must get better at interacting with our representatives & holding them accountable
Yes, we definitely need to get back to free universities- - I don't know how my nieces and nephews are going to make it. Capitalism is out of control in this country. Everything is about shareholder value.... too few companies practice stakeholder value, stakeholder bring tge employees, the communities, the environment. The US is so very regressive. I watched a good show last night on Netflix that you would like, but you may have already seen it: You Are What You Eat, Twin Experiment. I mentioned it here because it goes into great detail about CAFO's.... and the chopping down of the Amazon jungle for cattle grazing.... farmed fisheries, Etc. It all goes back to extreme capitalism; when people, animals and the environment have to compete with profits, all 3 lose.
Yes, CAFOs are horrific places & our lust for meat, eggs, & dairy is a huge contributor to the destruction of the planet.
Thanks for the recommendation, I’ll look for it.
Conscious Capitalism is what we need more of & less toxic, destructive capitalism