Woke but Broke: How US Colleges Are Pricing Students, Themselves Out of Business
23rd April 2021
Whether their leaders realize or admit it or not, American colleges and universities are on the verge of a crisis. And it’s a crisis, by and large, of their own making.
The National Association of Scholars last month published a report by Neetu Arnold, “Priced Out: What College Costs America,” which finds, among other things, that an undergraduate degree is now prohibitively expensive for many Americans, who have turned to the federal government to subsidize their education.
“The average price of college,” writes Arnold, “has more than doubled since 1980.” She adds that “[n]early 44 million Americans now owe more than $1.5 trillion in student debt.”
And eventually those people will have to depend on government assistance, through handouts or debt cancellation. Students are the original sub-prime lendees.