I’ve been a long-time financial supporter of my alma mater. Even though I philosophically disagree with some of the positions of the administration, there’s never been a doubt that I’m a Georgetown Hoya through-and-through.
My education while on campus, both in and out of class, was top-notch. It gave me a base to build on in both my professional career and my life as a citizen.
But several years ago the school reached a milestone that I could no longer stand with. It raised tuition to an astronomical amount: above $45,000 per year. Today, it stands at $48,000.
Keep in mind, that’s just tuition. Including other costs, the total bill for attending this year is $67,000.
I wrote to the dean of admissions, asking how could a single year of attending the university possibly be worth more than the median household income in America?
Of course, I got no reply.
The school will tell you that almost no one pays that price. Over 70% of students have some form of aid.
But some do pay. And of those with aid, most will incur some debt. All to support a tuition structure that does nothing but march higher.
It’s as if every technological advance made in in the world somehow bypasses higher education campuses. They exist on a planet where phone deregulation, increased computing capacity, and self-administered items (think registration online, self-ordering kiosks, etc.) do nothing for the bottom line. Things can only cost more, never less.
Luckily, Hillary Clinton has a plan.
Her proposal for solving the student loan crisis is bold. What else do you call a program that redistributes $350 billion in income over 10 years?
This doesn’t make it a good or a bad proposal. Nor does it make education free. It’s intended to allow students to graduate free of student loan debt. That is, if they attend a state university.
Mrs. Clinton’s plan has several parts. The federal government will pitch in funds for higher education, but only if states increase what they allocate to the cause. Then there’s students, who would have to work 10 hours a week, and families will pay what they can afford.