In the US, colleges have become outrageously expensive over the past 20 years. There are several reasons for it, but most of it comes down to the way student loans are structured and excessive, non-academic, overhead costs.
The loans has served to enrich the companies that have provided them along with college administrators and politicians (left and right) who assist in the process while hurting students, their families and even college professors. This process is crippling US higher education and causing a slower economy.
Overhead costs come from excessive spending on sports teams, primarily football (US style). Head football coaches are typically one of the highest paid employees at most colleges. The infrastructure costs of building stadiums is huge. There are other high costs in the university system but this is perhaps the largest one.
In the US, colleges have become outrageously expensive over the past 20 years. There are several reasons for it, but most of it comes down to the way student loans are structured and excessive, non-academic, overhead costs.
The loans has served to enrich the companies that have provided them along with college administrators and politicians (left and right) who assist in the process while hurting students, their families and even college professors. This process is crippling US higher education and causing a slower economy.
Overhead costs come from excessive spending on sports teams, primarily football (US style). Head football coaches are typically one of the highest paid employees at most colleges. The infrastructure costs of building stadiums is huge. There are other high costs in the university system but this is perhaps the largest one.
That's bad. Higher education should be the equalizer of people coming from different backgrounds.