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I mean I get it. You don't love anybody in this world that's going to have to deal with it for much longer, but I do. I have a grandson gonna be here in less than six-weeks and I have no clue what's in store for this kid.
I woke up this morning to learn that principled conservatives are suing to block the SAVE program that caps student loan payments.
College Tuition Has Risen by Over 600%, 3x the Rate of Inflation, Last 40 Years
The cost of going to college has risen by over 600% over the last 4 decades, making higher education increasingly unaffordable for many.
college tuition vs inflation
If the cost of going to college had risen at the rate of inflation over the last 40 years, students would pay an average of $10,493 for a year of tuition, room, and board at a public college or $23,740 for the same at a private university.
Of course, we all know that’s not the case.
The latest report from the nonprofit group College Board shows that the average annual cost of attending a public college (tuition, fees, and room & board) is now between $24,030 for in-state students to $41,920 for out-of-state students — in the 1983-84 school year, the cost was just $3,430.
For students at private universities, the numbers are even more astounding. A year at the average private college will set students back $56,190. Just 40 years ago, the cost was just $7,760.
In other words, the cost of going to college has increased by as much as 624% in some cases compared to 40 years ago — over 3 times the rate of inflation during the last 4 decades.
Why Have Things Changed?
You might be wondering why this study focuses specifically on the last 40 years.
When you look at historical data on tuition costs in the United States, the 1980s were a major turning point. During the 1980s, the cost of college essentially doubled, increasing 141% for private universities and 99% for public colleges.
In fact, the 1980s saw some of the largest year-over-year tuition rate increases of any time period in history.
In 1986, William Bennett, then Secretary of Education, raised concerns about escalating college costs, accusing institutions of “defrauding students and exploiting the American public.” He also cautioned that the rapidly increasing default rate on student loans was unsustainable.
More Young Adults Opt Out
As the cost of college has continued to increase at an alarming rate, a growing number of young adults have decided that it’s simply not worth the cost.
A recent survey found that only 36% of US adults say they have a “great deal” or “quite a lot” of confidence in higher education, down from 57% in 2015.
Over the last decade, enrollment across all two and four-year universities has dropped by around 3 million students.
But here’s the kicker — the cost of tuition has risen so much during that same 10-year period that total annual revenue for US colleges from tuition and fees actually increased by around $7 billion, despite fewer students attending.
The pattern of escalating tuition costs and student debt for conventional college education shows no signs of changing.
Currently, the average borrower has nearly $39,000 in student loan debt. Recent figures indicate that total U.S. student loan debt has reached about $1.77 trillion.
And as we previously reported, the idea that students can work their way through college has become unrealistic amid years of stagnant wages coupled with astronomical rises in tuition and fees.
We’re reaching a breaking point, and the sustainability of higher education may very well hinge on addressing these issues.
AOC has filed articles of impeachment for ThomasClarence Thomas Took Free Yacht Trip to Russia, Chopper Flight to Putin’s Hometown: Dems
NYET
The allegedly secret gifts were disclosed in a letter from two Democratic senators that accused Thomas of potentially committing tax fraud.
Anna Conkling
Anna Conkling
Updated Jul. 10, 2024 12:01PM EDT / Published Jul. 10, 2024 11:48AM EDT
Supreme Court Justice Clarence Thomas has been accused of not disclosing a yacht trip to Russia and a private helicopter flight to a palace in President Vladimir Putin’s hometown, among a slew of other gifts and loans from businessman Harlan Crow.
Buried on page 14 of a letter that two Democratic senators sent to Attorney General Merrick Garland on Tuesday, in which they urged Garland to appoint a special counsel to probe Thomas, was an astonishing list of dozens of “likely undisclosed gifts and income” from Crow, Crow’s affiliated companies, and “other donors.”
In the letter, Sens. Sheldon Whitehouse (D-RI) and Ron Wyden (D-OR) said Thomas, one of the court’s staunchly conservative justices, even may have committed tax fraud and violated other federal laws by “secretly” accepting the gifts and income potentially worth millions.
“The Senate is not a prosecutorial body, and the Supreme Court has no fact-finding function of its own, making the executive role all the more important if there is ever to be any complete determination of the facts,” reads the letter requesting the appointment of a special prosecutor.
“We do not make this request lightly,” said the letter.
The list of potentially secret gifts also includes a loan of more than $267,000 provided by Thomas’ close friend Anthony Welters, the yacht trip to Russia from the Baltics, and the helicopter ride to Yusupov Palace in St. Petersburg. ProPublica first reported last year on the existence of extensive undisclosed gifts and lavish trips from Crow.
Additionally, Justice Thomas is accused of not disclosing tuitions for his grandnephew, free lodging, real estate transactions, and home renovations. The action escalates Democratic senators’ efforts to hold Thomas accountable for perceived ethics controversies.
According to the senators, Thomas’ conduct could violate the Ethics in Government Act, which requires officials like Supreme Court justices to file annual reports disclosing gifts and income accepted from outside sources.
“It is a crime,” reads the report, “To knowingly and willfully fail to file or report such information.”
Since 2023, two Senate committees have been looking into the 1991 loan from Welters that was connected to Thomas’ purchase of a luxury motor home. Welters previously responded to a New York Times request for comment on the loan only to say that it was “satisfied.”
Thomas, for his part, belatedly disclosed some—but not all—gifts from Crow this year and has defended the gifts as “personal hospitality” from some of his and his wife’s “dearest friends.”
“The evidence assembled thus far plainly suggests that Justice Thomas has committed numerous willful violations of federal ethics and false-statement laws and raises significant questions about whether he and his wealthy benefactors have,” Durban and Wyden wrote.
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