Tuition reduction the answer to student debt
Ross Schulz, Staff Writer
The Obama administration has plans for a proposal that will reduce monthly payments for more than 1.5 million current college students and borrowers. The administration should be commended for trying to help students pay for what has become an absurdly expensive but, for the most part, essential endeavor of earning a college degree.
However, the program is just a roundabout way to address the problem without actually facing it head on by putting pressure on universities and colleges ‘ many of which have state and federal backing ‘ to reduce their tuition to at least a somewhat reasonable figure.
For the 2011-12 school year alone, the cost for tuition at public four-year schools increased by an average of 8.3 percent, according to a new survey released last week by the College Board. The average total cost, which includes tuition, fees and room and board, is now more that $17,000 annually, according to the same group.
Student loans now top $1 trillion nationally, more than the total credit card debt in the country.
‘While the importance of a college degree has never been greater, its rapidly rising price is an overwhelming obstacle to many students and families … ‘ Gaston Caperton, College Board president, said in a statement. ‘ … The least we can do is slow the skyrocketing price of college and put the dream of higher education back within reach of every American.’
Those is power shouldn’t just slow the skyrocketing price of college; they should completely stop the rise and begin to bring the cost down.
Obama and others are quick to talk about the ridiculous amount of money made by big oil, Wall Street and others, but what about big education?
Obama’s plan will lower the monthly payment for students, but the plan says nothing about who’s making up the difference to the universities or colleges. The president said the plan will have no affect on taxpayers, but that still doesn’t answer the question of will the universities get their pay.
Regardless, the students and their families knew what they were getting into when they enrolled in college. Is it the federal government’s responsibility to pay for decisions made by each and every American?
More and more the thought process in this country is to go as deep in debt as we want and, when something goes wrong, find someone else to blame and ask for a government handout to dig out of the hole we created. For some reason, that doesn’t strike the same chord as the founding principles this country was built on, grown with and succeeded because of.
There’s no doubt the cost of higher education needs to be drastically reduced starting from the top. So, if the president can do something to make that happen, he should do it.