College eats up student’s money

Jacob Streeter, Videographer

College, the ever growing waste of money that keeps getting more and more expensive while offering less and less. For years the price has increased, far outpacing the national inflation rate. At this point, you will get more for your buck if you make a big pile of hundred dollar bills, drench it in gasoline and set fire to it. I’m not even kidding, it is literally better to set fire to your own money. 

Here’s why. Three words: non- bankruptable debt, that comes in the tens of thousands of dollars. Since 1958, the government has been giving low interest loans to students. On paper this sounds like a bad idea, but unfortunately to the colleges this just means unlimited money. This leads to them greatly increasing the price per student to a massive degree. 

Of course they still need students so they used this money on extremely expensive amenities that rival some 5 star hotels, Ranging from fully staffed spas to gigantic pools and rock climbing walls. Unfortunately you could just get rid of it by going bankrupt, but you would still have to pay for it. 

Now you could just work and save up for college. While this is technically possible but it’ll take many many hours of work, most likely at minimum wage and even then you might not get enough depending on the college. There’s also scholarships but that won’t cover all the costs and you might either have to take the student loan or work off the remaining cost which is a lot more manageable than just working it off. 

Recent studies show that this year, in specific, is the most colleges are charging for tuition. This is because of obvious reasons regarding the pandemic. Colleges such as private ones are charging up to $50,000 per year which includes 12 months plus the three that you get off from holidays. Back in the 2016-2017 school year, the tuition fee for one year was not even reaching $49,000. These colleges are trying to survive, but it’s taking a huge carve out of student’s money. 

Unfortunately, college fees aren’t hurting students only. At one college, the total payroll cost of the teaching faculty (including all benefits) is $41.6 million. This is less than half of the total cost of all employees, including the parasitic and counterproductive administrative class now common everywhere. So, the cost-per-student of the entire teaching faculty was $14,500 each, for 2,872 students.

Fortunately there is a solution. The government should stop giving money to students, like wealthy businessmen cutting off his spoiled brat whose dad’s money kept burning a hole in his pants. It’ll just keep wasting taxpayer money and it’ll just keep on increasing the cost.