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Monday, February 27, 2006

If College Tuition Increases by Five Thousand % And Government Aid to Students by Five Hundred %, Whose Fault Is It?

I caught a bit of Bob Brinker's radio show this weekend. Brinker has a show called Money Talks and he takes calls from people who have questions about managing their money. I am not a regular listener but Brinker generally offers good advice.

Anyway, this weekend Brinker had a guest named Tamara Draut. She just wrote a book called "Strapped" which tells how the high cost of college has stapped 20 and 30-somethings. On the show, the author,
Draut, blamed the government for cutting student loan programs and she used this as an example to make her case:

In 1948, the GI Bill paid a veteran $475 per year to use for college and that covered virtually the entire tuition bill at Harvard (except for $25). Today, Draut reported the GI Bill provides a grant of about $2,500 and that leaves a gap of more than $24,000 because Harvard's tuition is more than $28,000.

So according to Tamara's argument the government is not doing enough even though the GI grant increased by 500%. I would argue the problem is primarily due to Harvard's tuition increasing by an astronomical 5,000% . Maybe, Tamara should be asking why college tuition (at least at Harvard) has increased by ten times the rate of the government grant.

2 comments:

ColossusHube said...

I often wondered why the Left always seems to be in favor of some sort of price controls for things like healthcare, drugs, rent and the like, but is totally mute when it comes to college costs.

Oh, that's right -- "nasty" corporations and "rich" folk run the former, while lefty academics run the latter!

AJ Lynch said...

Hube:
It's a knee-jerk mindset. I could talk to lib friends and relatives and they automatically assume profit and big business are evil. BUT they never question the non-profit mavens' collective integrity. Go Figure?