When I started college, tuition was just $1,500 a semester. Today, it’s more than $3,600 a semester — more than double in just ten years. Now it’s almost impossible to work the summers and pay for tuition. People have to get full time jobs, and take on student loan debt, and that’s at MSU, one of the cheapest colleges in the nation!
The price of college has gone through the roof, but instead of asking why college is so expensive, most people would rather ask why the government isn’t helping more. Obama, why can’t you give me more money? Obama, give us more financial aid! Obama, please forgive our student loans!
But what would happen if all student loan debt was forgiven?
First of all, that debt would still exist. One trillion dollars would be transferred from student debt onto the national debt. The debt would be paid for by printing money, which would create hyper inflation, hurting the poor. Hyper inflation kills jobs. The cost of food and gas would go up, and so would the cost of college, which would really soar. Financial aid would be limitless, so college could raise their prices infinitely.
It’s because of financial aid that college is so expensive. Ever since the program started, suddenly, it was like everybody went to college, even people who didn’t need it. College was like, “High School, the Sequel”. I remember being surrounded by sleepy students, and scared professors who just handed out A’s like they were lollipops. Students would harass the tough professors, “If I don’t get a C in your stupid class, they won’t give me my financial aid!” And most of the classes I took were just fluff. Getting licensed to teach music was like jumping through an endless amount of government mandated hoops.
Colleges began to charge more, because financial aid was footing the bill. We didn’t have to think so hard about the cost. Most of the people I knew went to college without even knowing what they wanted to major in. Lots of people just went because there was a government subsidy, so why not go? Some might’ve been better off just getting a job. It might’ve been better to take a few years off and just work while they figured out a plan. But now they’re thousands of dollars in debt with no useful degree to show for it.
Maybe the solution is getting rid of financial aid.
Students would have to think harder about the degrees they got. Without financial aid, students might have to work harder in high school to get good grades so they could get a scholarship. And some people who hated school might not jump directly into college right after high school. They might take a few years off and aquire valueable skills and money from working in the real world. With dropping enrollments, colleges would have to lower their prices drastically to allow more people a chance to enter. There might be more competition, through online schools, and more accreditation. Maybe the solution to killing the college monopoly beast is killing financial aid. That would make it much easier to pay off our national debt, which would help create jobs. As backwards as it may sound, maybe all this government help is actually hurting us in the long run.