A college education used to be considered the great equalizer in which a young adult from any social class could close the future income gap regardless of the social class of origin. Unfortunately, a college education is becoming a governmental form of oppression. Step on to almost any college campus today and you will witness the beginning of the creation of generational debt slaves.
For those of you who have children who are approaching college age, your eyes will be opened by the words written here. And the words written here are coming from a college insider who is intimately familiar with these corrupt student lending practices. And like many of you, not only am I professionally entrenched in this unholy system, I am not that many years away from witnessing the enslavement of my soon to be college age child.
The Creation of Debt Slaves
The rate of increase of a college education has increased eight times more than the cost of living. In my generation, college students could pay for their education with part time jobs. A part time job, today, will not purchase the text books.
In order to obtain a college degree today, students must pay about three times as much for their degree as did someone graduating 30 years ago, even when accounting for inflation. And there is not one shred of evidence that the quality of the education today have received a degree three times as good. In fact, the existing data suggests that our college students are paying far more than their parents did and receiving a less quality education.
According to the College Board, in 1983 a typical private American university managed to provide a bachelor’s degree education to young people just like you for $11,000 a year in tuition and fees, today, it costs almost $30,000 per year.
Thirty years ago, public universities have witnessed an even more dramatic increase. One used to be able to get a full four-year degree for $8,800. Today, one year’s worth of tuition will cost $8,700. In fact, today on an overcrowded college campus, it takes an average of six years to graduate because of the shortage of offered required classes, It can accurately be said that a good rule of thumb is that the bigger the college, the longer it takes to graduate. Further, when one factors in the time for degree completion, a college education at a public university is 6-8 times greater than it was in 1983. And if you think that these figures don’t sound that bad, please consider that the new tuition numbers do not account for room and board.