Maybe you, too, heard this at family barbecues this weekend: Congratulations to Meghan (or Matthew) for getting into (X) college. Then you heard panicked parents admit, “But we have no idea how to pay for it.”
It’s swell then that U.S. Sen. Elizabeth Warren, in her first piece of legislation, just proposed a bill to lower interest rates on federally subsidized Stafford loans from 3.4 percent to 0.75 percent. They’re scheduled to double to a 6.8 percent rate in July, further “hammering,” as Warren puts it, the perpetually “hammered” middle class. Anti-bank crusader Warren argues that those wily banks already can get loans at less than 1 percent. Why not students, too?This has been a recurring soundbite here in MA, with Warren pushing this as "why can't students get the same interest rates as those fatcats on Wall Street?" It's moderately infuriating, as it's more of the same class warfare BS rhetoric we've come to expect from the disconnected left. What's surprising, though, is that Margery Eagan is the one pointing this out:
Experts also blame bloated administrative staffs and skyrocketing professor salaries for why college costs are up 1,000 percent in 30 years. The admittedly rarefied Harvard Law School, which hires famous lawyers to teach, paid Warren $350,000 a year. So yes, it’s swell that Warren’s concerned about interest rates for those who won’t make $350,000 in 10 years.
That's $350K a year for teaching one class, mind you. While Eagan points out that colleges are getting away from the basics of educating students and offering more amenities than in the past, I suspect that a couple of "professors" who "teach" one class a semester for more than a third of a million dollars each contribute far more to the runaway tuition costs and associated fees than any health club or free-range cafeteria.
It's refreshing to hear someone that's not me point out the incongruity of Taxagawea complaining about the high cost of college tuition when she's pulling in a six figure salary for a part-time gig...
That is all.