Somewhere along the way those who “know better” decided to make college students a “profit center.” And so they did. Graduating students now owe more on their credit cards than the rest of the country combined.
There was a day when anyone in this country who wanted to go to college, better themselves and contribute to the U.S. economy could go to college. Sure – some of them borrowed money. But those fees and tuitions could be paid back with a decent part time job. And certainly within a few years of work. For others, Mom and Dad could afford to pay the freight.
Today – no way. Who would have thought that college graduates would walk the boards into a debt load that they’ll have to work 10 to 20 years to pay off – both the original debt and all the high interest that goes with it. The burden of paying all that debt delays their contributions to the local, regional and national economies while enriching the lending institutions who loaned them the money. Basically the already wealthy. Our children – our country’s greatest assets are being treated just like any other “borrowing customer.” In short, we’re mining our children. In a farming context “We’re eating our seed.” And because of that, many high school seniors and their families don’t even think about college, which puts the U.S. at a growing disadvantage on the world economic stage. And it dooms a growing number of our young people to a life of lower incomes, with greater dependency on government programs for housing, food and other life necessities.
In many other countries, especially in Europe, China and India, college is either free, or at least at very low cost. If not corrected, America’s “profit center” approach to our children’s education will put the country further and further behind countries that invest in their children’s education rather than subject them to ever rising debt.
Here’s more from The Oregonian. Click here.