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Public College Tuition Soars By Most Ever (Or Searching For Deflation In All The Wrong Places)

Tyler Durden's picture




 

For those who, like Time magazine and its exhaustive treatise on soaring healthcare costs, are shocked and confused how it is possible that prices for some of the most rudimentary staples, among them basic medical care and college tuition, have exploded we have the answer. In fact, we had the answer in August 2012, when we showed our "Chart Of The Day: From Pervasive Cheap Credit To Hyperinflation." We will take the liberty to recreate the chart from 7 months ago here:

As the title, and chart, both imply, the simple reason why college tuition is up 1200% in 35 years, while healthcare fees have soared by a neat 600% or double the official cumulative inflation, is two words: "cheap credit." This is also the reason why the BLS and the Fed can get away with alleging inflation is sub-2%: because the actual cost for any of these soaring in price services is never actually incurred currently, but is deferred with the only actual outlay being the cash interest, which as everyone knows is now at the ZIRP boundary thanks to 4+ years of ZIRP and three decades of the "great moderation."

Of course, if one actually were to calculate inflation by how it should be captured in a world in which half the base money is in the form of reserves which are only used to fund risky asset purchases (for now), which includes nominal stock and bond levels, it would be will in the double digits, but that is an exercise for a different day.

Which is why we are confident it will come as no surprise to anyone, especially not those who have no choice but to follow the herd and pay exorbitant amounts for a generic higher education that has negligible utility at best in the New "Okun's law is terminally broken" Normal, that tuition at public colleges jumped by a record amount in the past year!

WSJ has the full story:

The average amount that students at public colleges paid in tuition, after state and institutional grants and scholarships, climbed 8.3% last year, the biggest jump on record, according to a report based on data from all public institutions in all 50 states to be released Wednesday by the State Higher Education Executive Officers Association. Median tuition rose 4.5%.

A big factor for the plunge is that the states housing the colleges are just as broke as virtually every other for-profit entity in the developed world:

The average state funding per student, meanwhile, fell by more than 9%, the steepest drop since the group began collecting the data in 1980. Median funding fell 10%. During the recession, states began cutting support for higher education, and the trend accelerated last year.

Rising tuition costs are "another example of the bind that public institutions are in," said Sandy Baum, an economist at Skidmore College. "Unless we make public funding a higher priority, the funds are going to have to come from parents and students."

And therein lies the rub: because broke states need cheap credit to continue their externally-funded existence: the same cheap credit that allows students to indiscriminately pay soaring tuition costs, and take out any amount of loans since they don't have to worry about the current cost of such an education at the current moment. Obviously the price elasticity would be far less if student could only afford colleges they had savings to pay for. And by the time the loan comes due... well, that is bridge the delighted student (who just purchased two iPhones with the first loan installment) will cross in many many years.

Sure enough, it is the cheap loans that are the true antagonist both here, and in the parallel show describing the horrifying picture surrounding America's cost-exploding welfare state. Only there it is tens of trillions of socially spread out and underfunded liabilities that are allowing the same price "elasticity" that has sent costs through the roof in the past three decades (and is the answer to Time's expansive healthcare cost quandary).

Kaylen Hendrick, a senior at Florida State University in Tallahassee majoring in environmental studies, is graduating in three years rather than four in order to keep costs and borrowing down.

 

"Growing up, I thought if I made good enough grades, that college would not be a problem," said Ms. Hendrick, 20 years old, who has taken out about $15,000 in student loans and works 20 hours a week to pay for college.

 

State funding for the State University System of Florida has declined by more than $1 billion over the last six years, even as enrollment has grown by more than 35,000 students, a spokeswoman for the system said.

 

Nationally, average tuition, after institutional grants and scholarships, increased to $5,189 in 2011-12 from $4,793 a year earlier, according to the report, which is based on the 2011-12 academic year and adjusted its figures for inflation. Tuition revenue accounted for a record 47% of educational funding at public colleges last year.

 

In addition to raising tuition, many states have pared spending. The California State University System declined to take the vast majority of transfer students this spring and has turned away about 20,000 students who qualified for admission during each of the past three years, a spokesman said.

Society's loss: 20,000 less Bolivian wicker basket majors roaming the streets. But trust us kids: when all is said and done, unlike the BLS, your inflation wallet will be unable to "exclude" all those things that have soared in price (such as your largely worthless education) and ending up miraculously with, drumroll, a sub 2% CPI for years and years and years.

Because all those trillions in student loans are coming due one day, and when they do, that 1200% rate of increase in college prices (and rising) will make it all too clear that while one can hide inflation for a brief period of time in mountains of debt, the cost always comes due.

 

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Wed, 03/06/2013 - 20:36 | 3306886 OpenThePodBayDoorHAL
OpenThePodBayDoorHAL's picture

Nah we don't need to educate people, we just need to spy on them and rob from them and screw up their health care and take away their guns and bomb a bunch of ooat herders out in the desert on the other side of the planet. iT's a question of priorities.

Wed, 03/06/2013 - 20:40 | 3306896 DaveyJones
DaveyJones's picture

pryorities

Wed, 03/06/2013 - 21:01 | 3306985 DaveyJones
DaveyJones's picture

No matter what we think of that circus tent, that exchange was a serious and ugly history marker.

They don't give a shit

An they're not afraid to say so 

Wed, 03/06/2013 - 22:21 | 3307306 I think I need ...
I think I need to buy a gun's picture

EVEN JOHN STEWART IS TAKING A "BREAK" NOW EVERYONE IS LEAVING THE PARTY

Wed, 03/06/2013 - 20:53 | 3306950 TeMpTeK
TeMpTeK's picture

<------ Long Text Books

Wed, 03/06/2013 - 20:59 | 3306966 rbg81
rbg81's picture

And just what factors are driving this increase?

  • Unsustainable building sprees on campus
  • An explosion in the number of administrators
  • The quest for diversity -- can you say deadwood?
  • Salary and benefits for faculty and staff--especially pensions
  • For profit colleges that charge sky-high tuition & fees while hiring dirt cheap, adjunct faculty

Not only that, wait till grant $$ from the Federal government starts to drop.  You will hear university presidents squealing like stuck pigs.

 

Wed, 03/06/2013 - 21:11 | 3307025 dtwn
dtwn's picture

Colleges will try to get the $$ from the students first in the form of tuition hikes.  That will work up to a point, but when the Fedd $$ start declining, the riots start.

Students in Canada rioted over tuition recently https://www.youtube.com/watch?v=41YC0ASnfv4

I would guess US riots could get big and ugly as all the unemployed, indebted former graduates descend on campuses to display their anger and frustration.

Wed, 03/06/2013 - 21:56 | 3307216 AldousHuxley
AldousHuxley's picture

College, healthcare , housing which makes middle class are extremely inflated while cheap plastic toys from china, food from Mexico , clothes from Bangladesh, US made guns are easily obtained. priorities of this empire determines her future

 

 

Wed, 03/06/2013 - 22:36 | 3307355 fleur de lis
fleur de lis's picture

The whole university system is a racket. Nobody knows where the money goes, students are forced to take stupid courses to keep teachers employed, and are lured into dead-end degrees with no job prospects, and whether or not they find employment they are for the most part indentured servants for decades paying back exorbitant loans when they should be starting their lives. There is nothing decent about massive debt and for a university to chart the planned extraction of the best years out of America's youth before they can even start their own families is an absolute disgrace.  And by the way the education they offer in exchange is nothing to brag about, either. 

Wed, 03/06/2013 - 23:03 | 3307459 tom a taxpayer
tom a taxpayer's picture

In the 1960s student activists, protesters and sympathizers railed against the university and privilege of the 1960s. Now many of these former students are in power in the university, and are sticking the high costs of their privileged pay and pensions on today's students and tomorrow's taxpayers.

 

Instead of "Power to the People", they chant "Power to the Privileged".

 

Too bad today's students are so anesthetized.

Fri, 03/08/2013 - 08:41 | 3311552 Backspin
Backspin's picture

Right on, right on, and right on.

Kids, if you are in college right now, switch your major to electrical engineering, zip up your pants and skip the drunken orgies, get a job to pay for your own tuition, and graduate with no debt and a useful degree.

Thu, 03/07/2013 - 00:13 | 3307650 blazes93
blazes93's picture

Students in Quebec protested/rioted yes, but, the rest of the country still has their heads up their ass.  Tution in the rest of the country's post secondary schools have been increasing at a fast pace.

Wed, 03/06/2013 - 21:50 | 3307187 TruthHunter
TruthHunter's picture

"And just what factors are driving this increase?"

You could add Accreditation Monopolies

Full bankruptcy protection for student loan creditors

Wed, 03/06/2013 - 21:59 | 3307232 AldousHuxley
AldousHuxley's picture

Lack of accountability of older ggenerations.

short term focus on entertainment (football stadium subsidies) instead of long term investment in educated populace.

 

 

Thu, 03/07/2013 - 07:03 | 3308085 Thamesford
Thamesford's picture

... but Paul Krugman said inflation hadn't appeared yet. Funny that.

 

Wed, 03/06/2013 - 22:15 | 3307285 disabledvet
disabledvet's picture

the ahem..."quest for diversity" ahem...is probably the only thing paying the bills for these Universities. you think white people are crazy enough to pay that much money for college?

Wed, 03/06/2013 - 23:20 | 3307516 rbg81
rbg81's picture

You think white people are crazy enough to pay that much money for college?

 

Uh, yeah, they definitely are. Many of the [non-Asian] minorities are on scholarships or grants.  Its the Whites and the Asian parents and students who are getting reamed.  

 

But, really, I was talking about the quest for diversity in college hiring.  If you're White, you are at a distinct disadvantage...especially if you're straight.  Why do you think Ward Churchill pretended to be an Indian?  Trust me, he knew what he was doing.

 

 

Fri, 03/08/2013 - 08:35 | 3311542 Backspin
Backspin's picture

That's right.  Like in this quote: "Unless we make public funding a higher priority, the funds are going to have to come from parents and students."

See the assumption:  the funding has to come from somewhere, but there's no mention of cutting costs, of getting rid of some of the administrative assistant's administrative assistants.  No mention of streamlining some of the ridiculous bloat and red tape.

 

Wed, 03/06/2013 - 23:07 | 3307472 Dingleberry
Dingleberry's picture

"Silly ZHers.....you forgot to adjust the tuition hedonically.  It has not risen......it's actually deflation, bitchez!!"

 

Heli-Ben Bernank

Thu, 03/07/2013 - 02:01 | 3307862 felipagil
felipagil's picture

The explosion in tuition is the same thing that happened to home prices in the housing bubble. No qualification criteria but a heartbeat and SSN # and the amount loaned is only based on what the seller (education institution in this case) wants to charge. If the govt was out of this game prices would crash back down to Earth in a hurry when almost NOBODY could pay what the seller is asking anymore.

 

Hell don't worry about what you pay, just get a loan!

Wed, 03/06/2013 - 20:37 | 3306890 lolmao500
lolmao500's picture

Good luck competing with China...

Wed, 03/06/2013 - 20:39 | 3306894 DaveyJones
DaveyJones's picture

On my second kid in. The only thing left (for the regular folk) is the high school / college program. Child will have nearly two years knocked off when she starts. Also the "public" schools are so expensive now that many of the "private" will offer a decent scholarship to an accomplished kid and it often beats the total price of the public.

I blame the terrorists 

Wed, 03/06/2013 - 20:49 | 3306929 DoChenRollingBearing
DoChenRollingBearing's picture

I am so glad that our (one) kid is through and working.  Seems to be a BAD time to be young...

Wed, 03/06/2013 - 20:55 | 3306945 DaveyJones
DaveyJones's picture

and old and middle aged

and a cow and a whale and a sea plankton and topsoil and groundwater and

 

Wed, 03/06/2013 - 20:55 | 3306960 prains
prains's picture

but not so bad for Cheney and Co.

Wed, 03/06/2013 - 21:03 | 3306964 DaveyJones
DaveyJones's picture

Tell Tale Heart

or

Tell Tale Heat?

 

Wed, 03/06/2013 - 21:53 | 3307204 TruthHunter
TruthHunter's picture

"but not so bad for Cheney and Co."

He seems to have survived the odds for heart disease. With all 

those heart meds, do think his dick still works?

Wed, 03/06/2013 - 23:39 | 3307567 zuuma
zuuma's picture

Worked fine last Monday!   :-)

Thu, 03/07/2013 - 08:15 | 3308183 e-recep
e-recep's picture

especially for those in their 20's. they can't marry and have children due to high unemployment and financial hardships. they sit in coffee-shops for hours on end staring into their smartphones.

Wed, 03/06/2013 - 21:00 | 3306978 cynicalskeptic
cynicalskeptic's picture

Harder to get into SUNY Binghamton than Harvard lately - all the old 'party schools' in the SUNY system are now quite competitive because they're still cheaper than private.  Meanwhile the low to no cost options disappear - Cooper Union is going to start charging and CUNY .... well CUNY WAS a great system but of late - well open enrollments don;t work so well.... the college of the 1930's 40's and 50's that produced so many great people is a shadow if itself.

The reality is that college is NOT for everyone and making it a requirement for even the most menial jobs is ridiculous.  But that approach prolongs adolescence and gets the masses in debt, very profitable for some segments of society.   A year for my oldest cost more than my full 4 year private engineering degree.  They throw loans at everyone - many of whom are all too willing to fund spring break expeditions and the latest iWhatever while credit cards are offerred to all - irrespective of existing debt load, lack of employment or future prospects.

The smart ones get through with little or no debt, study 'employable' majors and try to finish in as short a time as possible (kid's roommate finished in 3 years with AP's and loading up - cutting off a year's worth of expenses).

Meanwhile if you did the 'right thing' and saved so you COULD pay for college you get screwed and pay full frieght.  Upside is that the dumber ones can buy their way into the schools that aren't 'needs blind' - Yes, it DOES make a difference for private second tier schools (prestegious but not at the very top) if you can pay or if you need aid.  Saw a few wait list entries changed into acceptances when it was made clear there would NOT be an application for financial aid.   But some of those cases had parents remortgaging the house for a kid who might have been better off somewhere less competitive.  But then sometimes the name of the school IS all that matters......

Wed, 03/06/2013 - 23:37 | 3307555 Jon Bong Jovi
Jon Bong Jovi's picture

Ever try telling a kid that it might make more sense for him to become a Master Plumber or tradesman than go to college? They get cross-eyed real quick. 

 

 

Wed, 03/06/2013 - 20:41 | 3306897 JustObserving
JustObserving's picture

As long as gold and silver are hammered every morning, inflation is under control.  Keep up the printing, Uncle Ben.

Wed, 03/06/2013 - 22:00 | 3307231 Bay of Pigs
Bay of Pigs's picture

"college tuition is up 1200% in 35 years"

I'm sure Orly would tell us this is just "transitory" and not "systemic" inflation.

Wed, 03/06/2013 - 20:42 | 3306903 Desert Irish
Desert Irish's picture

When you pay tenured profs $160,000 a year to lecture 23 hours a semester this is what you get.....

Wed, 03/06/2013 - 20:56 | 3306963 ebworthen
ebworthen's picture

It's a gravy train that makes the GSA look frugal.

Wed, 03/06/2013 - 21:05 | 3306999 cynicalskeptic
cynicalskeptic's picture

Not so many of those anymore.  The new model is ADJUNCT professors paid a minimum - nio benefits.   Some VERY well qualified people out ther stuck in adjunct prof hell.  The real money is going to the administrators.  

 

Some RIDICULOUSLY overpaid college heads out there.   http://blog.timesunion.com/schools/a-six-figure-salary-hike-for-rpis-shi...

Give me a break..... it's a good school but not THAT good and the cost has gone through the roof.  They'd do better building some new dorms - not enough, too many ancient ones and too many kids living in local slums.   

Wed, 03/06/2013 - 21:10 | 3307018 ebworthen
ebworthen's picture

True.

I can't count the number of qualified people who were led along the "you'll get tenure" bread crumb trail for 6-7 years, only to have an Administrator sabotage their appointment.

They churned them in and out, strung them along for over six years with the promise of tenure, only to boot them to the curb.

The ones that get tenure are the ass-kissing equivocating, double-talking, back-stabbing bullshitters who have no problem lying to students, parents, and anyone not aligned with administration prerogatives.

Wed, 03/06/2013 - 20:43 | 3306913 khakuda
khakuda's picture

The price of everything that isn't made in or effected by China has gone up a ton over the past 35 years.

Wed, 03/06/2013 - 23:04 | 3307465 A Nanny Moose
A Nanny Moose's picture

The price of everything that isn't made in or effected by China has gone up a metric fuck-ton over the past 35 years.

Fixed.

Wed, 03/06/2013 - 20:45 | 3306918 DaveyJones
DaveyJones's picture

Lets see, we have spent well beyond our means and kicked every can to the next generation...(s)

The "information" age (ironic as that is) often assumes an undergrad as if it's a HS degree.

The cost is so utterly inflating that the middle class parent is passing this additional debt to a child who after graduating has walmart and starbuck wages as their option

Volcano math

Volcano kids   

Wed, 03/06/2013 - 21:03 | 3306989 Ima anal sphincter
Ima anal sphincter's picture

Doing my damnedest to get both through with 0 debt. Frickin hurts the spousal unit and I, but it has to get done. I've warned them over and over about debt. Has it sunk in???? Man, I hope so.

Wed, 03/06/2013 - 21:07 | 3307009 DaveyJones
DaveyJones's picture

Trying to do the same but I have an ex to deal with who sums up why we're here. Parent comes first. Doesn't realize this will probably cement the growing alienation..or perhaps doesn't care. I wonder how common this phenomenon will be....

God bless her step mother.

Have also been blessed with talented kids. The first got a full ride for music. The second after scholarship and HS program, will do it for 40% of the cost.   

Wed, 03/06/2013 - 21:12 | 3307032 Ima anal sphincter
Ima anal sphincter's picture

Second kid got a RA position for next year. Massively happy on that one.

Good luck with the battle(s).

Wed, 03/06/2013 - 21:26 | 3307084 DaveyJones
DaveyJones's picture

thank you and the same

Wed, 03/06/2013 - 20:50 | 3306931 mktsrmanipulated
mktsrmanipulated's picture

just posing a point....so with qeternity and the crushing of the $ commodities are inflating in price rt??? twice as much$ to buy the good...it seems to me that it translated to the stock market as well...for centuries the common philosophy was high oil bad for stocks....high stocks bad for bonds...but then a very interesting thing happened one day...someone realized that if the dollar weakens shouldnt all us dollar denominated assets go up in value?????? 

 

so now all fundamental data is ignored....all govt statistical measures are maniuplated and the masses are fed a stream of bullshit from cnbc and jim "cocksucker" cramer so they think they understand the markets...

 

US Financial Markets are the biggest ponzi scheme in the world and uncle ben makes madoff look like a 3 card montey dealer

Wed, 03/06/2013 - 20:50 | 3306933 ziggy59
ziggy59's picture

21st Century philosphy: He Who BSes First and Most, BSes Best

Wed, 03/06/2013 - 20:50 | 3306935 Bingfa
Bingfa's picture

This administration is all about cost cutting....

http://www.weeklystandard.com/blogs/report-wh-saves-18k-week-canceling-t...

White House saves 18K (that's thousand) per week by cancelling tours.

The headline should actually read....Obama goes full retard in cost cutting sequester rampage.

Wed, 03/06/2013 - 20:51 | 3306938 Seasmoke
Seasmoke's picture

I guess they know there is no way their pensions will be there in 10 years , so they may as well grab all they can now.

Wed, 03/06/2013 - 21:00 | 3306956 ebworthen
ebworthen's picture

I've worked at three different Universities/Colleges in the past 35 years.

You would not believe the level of waste at these institutions; on equipment, supplies, salaries, vehicles, furniture, catered meals, etc., etc., etc.

When budgets are cut, the answer is always raise tuition. 

Many state legislatures have gradually cut funding to higher ed. while throwing more and more money at K-12.  This is another reason that costs and the corollary of student loan debt bubbling to $1 Trillion.  Rather than cut costs, Universities just raise tuition (similar to health insurance costs).

The people who do the most work; the un-tenured instructors, advisers, and staff do most of the work and get paid peanuts.  The tenured ideologue Professors and Administrators get the big slice of meat and gravy salaries, and athletic departments.

"Rah-rah-rah!  Get a degree (any degree) and you will be making big bucks in no time!"

It doesn't matter if the economy supports the area of study, it is all sunshine and roses.

Get them in, then keep them there as long as possible by requiring all sorts of prerequisites, obsolescing courses taken at the University 9 months earlier, don't offer enough classes or seats so that students are forced to spend five+ years getting a Bachelor's degree.

They also run like typical government bureaucracies; if you didn't spend all the money in your yearly budget by buying computers and other equipment you didn't really need they would take it away from you - so people bought what they didn't need or updated every year or two years instead of every three, four, or five.

It's ugly.

Wed, 03/06/2013 - 21:13 | 3307038 RebelDevil
RebelDevil's picture

I will add to your points to say that professors who teach subjects like math, chemistry, physics, writing, ect. suck at teaching!  They're boring as shit! That combined with immigrant professors who can't speak english without a heavy accent.
No offense to immigrants, but if you have a heavy ass accent to the point where your students can only understand 70% of your speech, you shouldn't be teaching (yet).

And this is what I pay $10K/semester for!
Thanks for the reminder ZH.

Wed, 03/06/2013 - 21:33 | 3307104 ebworthen
ebworthen's picture

Last University I worked at had Indian and Chinese grad. students teaching undergrad required math classes.

Students complained constantly that they had trouble understanding them, or the instructor had trouble understanding their questions (not to mention the cultural differences).

The math department was not responsive; as they wanted to save money by having the grad. students teach the undergrad lower level classes (this was "beneath" the tenured professors).

The math department also obsolesced the student's credit in their own classes.

Let's say a student gets an "A" in "Math 1010" in the Fall of 2011.  That credit would no longer count to get them into the required for many degrees "Math 2010" the next Fall; the three credits and the "A" were essentially worthless.  The student had to jump into the Math 2010 class within two semesters, retake the Math 1010 course, or pass a competency exam (which they had to pay $150 for of course).

More often than not the students could not get into the Math 2010 class soon enogh as they were offered every other semester and there were very limited course offerings.  Nice racket, eh?

Did the Math department care?  No, it was a revenue stream for them to obsolesce the courses and not deal with the language barrier with their underpaid foreign grad. students teaching the courses.

Wed, 03/06/2013 - 23:08 | 3307473 A Nanny Moose
A Nanny Moose's picture

one need not care about service, when government limits your competition, and declares student debt non-dischargeable.

Wed, 03/06/2013 - 22:07 | 3307254 TruthHunter
TruthHunter's picture

Most lectures are so 19th century.

Take the best prof, a good writer/editor, and a good actor/public speaker

and you could outdo 95% of college lecturers.  Who needs live

 

Some highschools are assigning Kahn Academy videos for homework(instead of problems) and having the students work 

traditional assignments in class where teachers can do some good.

Wed, 03/06/2013 - 23:10 | 3307480 A Nanny Moose
A Nanny Moose's picture

Indeed. T/As and babysitters are all the typical classroom needs these days.

Wed, 03/06/2013 - 23:34 | 3307548 Alpha Monkey
Alpha Monkey's picture

Yeah, my Statistics lab instructor is a chinese guy who can't speak english for shit.  The primary Stat instructor is an old dude who reads pages & pages of information off of power point slides for an hour.

Thu, 03/07/2013 - 00:58 | 3307757 tom a taxpayer
tom a taxpayer's picture

Perhaps videotaping a few minutes of these duds and putting them on Youtube might embarrass the University enough to remedy the situation.

Wed, 03/06/2013 - 22:20 | 3307303 DangerClams
DangerClams's picture

I worked at a small college for 5 years and all of this is perfectly accurate.  The only thing missing is the self-love that's liberally administered by the "tenured" staff, many who have stuck to the place for decades and now make over 6 figures, doing literally next to nothing, and would be fired in a week if they had to work at a real job somewhere else.  The admin grunts, working low-to-mid-level gigs, generally get paid middling to OK, but there's no real money unless you claw your way to the top of Mt. Stupid - and the people who are perched there require dynamite to leave.

An enormous scam is higher ed.  Enormous.  Outside of the more technical disciplines, you don't need to pay some douchebag to read a book at 20/30/40/50K per year.

 

Wed, 03/06/2013 - 20:55 | 3306959 NoWayJose
NoWayJose's picture

With chained inflation calculations - if you do not like an 8% tuition increase at public colleges, just switch to a community college, a private college, or a college in Bulgaria!

Wed, 03/06/2013 - 20:58 | 3306971 Bunga Bunga
Bunga Bunga's picture

But, but, but when you needed 10 college grads in 1978, one does the same amount of work in 2013.

Wed, 03/06/2013 - 21:02 | 3306983 AN0NYM0US
AN0NYM0US's picture

ZH is a hypocrite

FU Tyler for not featuring the Rand Paul Filibuster

 

FUCK YOU asshole liar prick

and all you cult suckers who have read this bastard

 

copy this cause I am about to become one of the disappeared

 

http://www.c-span.org/Live-Video/C-SPAN2/

Wed, 03/06/2013 - 21:08 | 3307014 Ima anal sphincter
Ima anal sphincter's picture

What?????

Wed, 03/06/2013 - 23:10 | 3307485 A Nanny Moose
A Nanny Moose's picture

tourettes.

Wed, 03/06/2013 - 21:09 | 3307015 yogibear
yogibear's picture

Rand needs all the help he can get.

Thu, 03/07/2013 - 04:03 | 3307970 Tyler Durden
Tyler Durden's picture

Uh: "Rand Paul's #Filiblizzard Enters Its Sixth (Now Tenth) Hour"

And since you would rather spend 10 minutes in idiotic rambling and swearing instead of using the scrollwheel on the front page for 5 seconds, your departure won't be a big loss to society.

Wed, 03/06/2013 - 21:23 | 3307080 Atomizer
Atomizer's picture

 

 

Happening right in my neck of the woods.

 

Both sides of Strongsville teachers strike will discuss future negotiating session tonight.

http://www.cleveland.com/strongsville/index.ssf/2013/03/both_sides_of_strongsville_tea.html

 

I have refrained from driving down Lunn Rd.  Just shake my head over this stupidity. Read comments.

 

Wed, 03/06/2013 - 21:31 | 3307110 Tsar Pointless
Tsar Pointless's picture

I may have $30k in college debt, but at least I don't have any kids. I am SO glad I decided at a very young age that I never wanted to have one, whether the old-fashioned way or via adoption.

Wed, 03/06/2013 - 22:41 | 3307379 TruthHunter
TruthHunter's picture

" I am SO glad I decided at a very young age that I never wanted to have one"

Trying for a "Darwing Award"?

http://www.darwinawards.com/darwin/darwin1993-04.html

Wed, 03/06/2013 - 21:45 | 3307173 tony bonn
tony bonn's picture

"...Obviously the price elasticity would be far less if student could only afford colleges they had savings to pay for..."

that is precisely the point and problem with all socialized goods. education is a racket to pay bureaucrats exorbitant wages because they are so much worthier than anyone else. since the market wasn't compensating them, the education mob does.

Wed, 03/06/2013 - 21:50 | 3307189 unlimitedoptions
unlimitedoptions's picture

Another noose around the younger generation not fortunate enough to have their parents pay for college. Good luck getting a job when you get out, you will be lucky to pay that loan back within 20 years. Then guess what, you will need a house - but that comes with a 30 year mortgage - debt serfs! Sucks to be young, jokes on us!

Wed, 03/06/2013 - 21:54 | 3307209 peteym80
peteym80's picture

So sad. There is very little news about student loan bubble, currency devaluation, and FED manipulation, but the United States still cares about changing the National Anthem to R. Kelley's Ignition. Almost 6K votes so far:

https://petitions.whitehouse.gov/petition/change-national-anthem-r-kellys-2003-hit-ignition-remix/Rm8SC7FP we petition the obama administration to: change the national anthem to R. Kelly's 2003 hit "Ignition (Remix)."

We, the undersigned, would like the Obama administration to recognize the need for a new national anthem, one that even a decade after its creation, is still hot and fresh out the kitchen. America has changed since Francis Scott Key penned our current anthem in 1814. Since then, we have realized that after the show, it's the afterparty, and that after the party, it's the hotel lobby, and--perhaps most importantly--that 'round about four, you've got to clear the lobby, at which point it's strongly recommended that you take it to the room and freak somebody. President Obama: we ask you to recognize the evolution of this beautiful country and give us an anthem that better suits the glorious nation we have become.

Wed, 03/06/2013 - 22:09 | 3307260 Atomizer
Atomizer's picture

The MODS at the Cleveland Plain Dealer [Liberal Rag] deleted this post. Not my post, but someone who understands

 

Teachers Unions explained

Wed, 03/06/2013 - 22:13 | 3307278 rls9642
rls9642's picture

Cheap credit? For whom? Certainly not for middle-class borrowers.

Stafford (Unsubsidized) : 6.8%

Plus Loan : 7.9%

Privates : 6-7% minimum.

And of course, all are adjustable because there's only one way rates can move.

Two years community college + two years in-state is the only option left.

Fuck the colleges. Fuck the banks.

Wed, 03/06/2013 - 23:42 | 3307569 Totentänzerlied
Totentänzerlied's picture

"Cheap" means artificially suppressed. Should an 18 year old with no assets and a C average be paying the same rate as one with plenty of collateral and an A average? No. For the former, 7% is a steal; for the latter, it's obscene. The rates are for the lender to determine based on the nature and terms of the loan and the available information about the borrower. The only reason it seems to work now is because they've effectively removed discharge-in-bankruptcy as an option, artificially suppressing the lender's risk to near-zero.

Wed, 03/06/2013 - 22:21 | 3307308 NoWayJose
NoWayJose's picture

A fair bit of the increases come from 'social engineering' at many public colleges. Dorms are not attractive anymore so you have to build apartment like housing. Got steps in that 60 year old building? Tear em out and add elevators for the handicapped. Need condoms or birth control pills? Freebies! Need useful courses? Sorry, you have to take sociology of ancient cultures first. Athletic teams have to share a weight room? No way - build each team their own. Scholarship fund running low? Sorry, got to hand out full tuition to minorities in order to avoid lawsuits and create diversity.

Wed, 03/06/2013 - 22:22 | 3307313 22winmag
22winmag's picture

Do you know many people in their 20s? You should see how many shitheads these $50k/year schools crank out.

Wed, 03/06/2013 - 23:55 | 3307606 Totentänzerlied
Totentänzerlied's picture

Half the students have no place being enrolled in a college and only have that capability thanks to student loans being a near risk-free cash cow for colleges and universities. It ain't their problem if the kid is dumb as a bag of rocks and can't make his payments, they get their money upfront, like all good con-men. The fact that most of their degrees are worthless and their students can't get jobs doesn't seem to weigh very heavily on the academic administrators earning well into six figures or more.

Making a college education "the one true path" to the good life was about the worst possible thing one could do as regards the academic quality of the students. But that doesn't matter, because each student, stupid or brilliant, conscientious or lazy, is worth virtually the same amount of money to the school.

Wed, 03/06/2013 - 22:34 | 3307351 Crtrvlt
Crtrvlt's picture

Schools are broke so they are jumping conferences in athletics for more revenue share from tv etc. eventually you'll have 4 super conferences that have put a stronghold on any university not in those and thus not able to get to big games ( in the case of football) thus relying on more tuition increases. The Schools in the big 4 will of course have to pay their coaches more and build more state of the art athletic facilities, causing more tuition increases irrespective of more $ coming from tv rights. Tbtf the school version. All of this of course funded by the original tbtf welfare leeches who, in collusion with the fed, have ruined everything. Game over

Wed, 03/06/2013 - 22:37 | 3307359 reader2010
reader2010's picture

Do they give students much more"Knowledge" at college now?

Wed, 03/06/2013 - 22:53 | 3307414 Brixton Guns
Brixton Guns's picture

Back in the day when I went to a UC college as a CA resident, it was quite affordable and I was able to work part time and pay my own tuition.  Those days are now LONG gone; good luck flipping burgers and supporting yourself through ANY higher education institution, starting at community college level and on up.  UC?  Fuggeddaboudit.

Wed, 03/06/2013 - 22:55 | 3307427 Rick Blaine
Rick Blaine's picture

"Growth."

Wed, 03/06/2013 - 23:00 | 3307445 helping_friendl...
helping_friendly_book's picture

When "W" and Congress made student loan debt non-dischargeable they created generations of debt slaves. The Jews can now collect interest until you die. They will even be garnishing your social security benefits. Gee ain't education great!

The fact that no one can get a job is part of their plan. That way they can charge interest until the day the un/under-employed graduate ecks out a meager existence while the douche bags package your delinquent loan in to a security.

Thu, 03/07/2013 - 00:05 | 3307631 otto skorzeny
otto skorzeny's picture

no jobs=no wage pressure=bernank can claim no inflation= QE4EVA

Wed, 03/06/2013 - 23:04 | 3307464 Dingleberry
Dingleberry's picture

The college lemmings voted for Obama en mass. They can suck it. And continue to do so.

Thu, 03/07/2013 - 00:01 | 3307620 Totentänzerlied
Totentänzerlied's picture

And who gave them the franchise (sufferage)? Causality is a bitch.

Thu, 03/07/2013 - 00:03 | 3307628 otto skorzeny
otto skorzeny's picture

the negroes (of any age)  would have voted for OJ for prez if he were the black guy on the ticket

Thu, 03/07/2013 - 02:10 | 3307873 WTFUD
WTFUD's picture

heh pussy wipe otto. would love to give you a good shafting but you'd probably enjoy it. your missus did!!

on a lighter note i left school at 16 realising quickly i was too bright and that the academic demands fell way short of my requirements; in truth i was expelled for setting alight one of the gym changing rooms. Bundled off to some detention centre for questioning i was marched into an office of some bigwig shaftmeister. Suppose i'm for the high jump i blurted out. no he said i am here to offer you a trainee post of debt enforcer with JPM.

Thu, 03/07/2013 - 09:54 | 3308382 helping_friendl...
helping_friendly_book's picture

Your tone has a certain...Marcellus Wallace quality to it. 

Thu, 03/07/2013 - 01:46 | 3307847 WTFUD
WTFUD's picture

some of you folks are real jokers! pussy bleaters! . . . maths teachers with thick foreign accents. i thought maths was predominantly numbers.
Anyways i'll give you an education; drop your strides and bend over that desk. Now!

Think Amazed. I have a great idea! Why don't we force all the jailed bankers to teach college drips for free.
Shit forgot there are no bankers in jail. boo hoo

Thu, 03/07/2013 - 02:06 | 3307868 dunce
dunce's picture

All majors and minors are funded as though they were of equal value to society. A step in the right direction would be scaling aid to real courses like math and hard sciences down to ethnic and queer studies with bonuses for graduation in needed fields. Could be the same or less funds expended with useful results. Social workers are not going to save the nation no matter what michelle says. If someone is determined to be a social scientist, let them do it on their own dime. Do not give me nonsense that they will pay back the student loans so there is no cost. There is no free lunch and tax payers pay a big share of the expenses of our colleges and universities.

Thu, 03/07/2013 - 02:58 | 3307925 q99x2
q99x2's picture

I like well equiped colleges. None of the financial statistics as related to any individual country has much to do whether there is money to pay for it. Central banks around the world mix and match balances as needed. There is no taxation with representation any longer. If the world central banks need more money in Europe they will transfer it from the states or any other country or they will print it. Nobody can say how much the CIA gets or the Pentagon. The banksters have committed treason in every country that they are in. The CIA is their main military arm and they basically control the world as if it were already their world. So if they want to send me to a nice college I'll go. In fact I went tonight. It was fun. Banksters been treating me pretty good lately. F'n vermin that they are.

Thu, 03/07/2013 - 03:36 | 3307956 Carl Spackler
Carl Spackler's picture

Tenure is the number one problem.

If you cannot get rid of the deadwood, then the forest will continue to choke itself to death.

Academia is the ultimate bastion of greed in this country...expect to receive a lot for doing nothing.

Thu, 03/07/2013 - 06:47 | 3308072 zipit
zipit's picture

And what happened to income over the same time period (oops!).

Thu, 03/07/2013 - 08:14 | 3308180 deerhunter
deerhunter's picture

High school principal in NW burb of Chicago making 360K a year.  Baseball coach/driver ed teacher 105K.  Retirement bennies unbelievable for life.  Soon we will have two classes in the 99%  Government workers and Non Government Workers.  Keep your powder dry and know your neighbors as this could get interesting.

Thu, 03/07/2013 - 09:06 | 3308243 Aegelis
Aegelis's picture

Yeah, 'cause that's normally what teachers make :-p.  Instead of going for the top tier of teaching income professions (professors), we go after the little guys who AREN'T at the university to blame the high college cost crisis.

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