NY TIMES: “For the past three decades, increases in college tuition have outpaced the overall rate of inflation, and increases in room and board have risen even faster. That has driven a substantial increase in the volume of student-loan debt. American students took out twice the value of student loans in 2011, about $112 billion, as they did a decade before, after adjusting for inflation. Overall, Americans now owe about $1 trillion in student loans.” (via: randomactsofchaos)
Just one decade (Bush years). Can you imagine what the comparison of these factors would look like between today’s college students and when their own parents were in college? The past three decades of bottom-to-top wealth transfer and money hoarding by the one percent has affected every aspect of the American Dream. Upward mobility through hard work and a college degree is on the verge of being a memory, a “legend” — much like the legend that once upon a time, the ‘M’ in MTV stood for music.
Some Republican solutions for today’s college students:
- John Boehner / House GOP: take money from the Prevention and Public Health Fund to keep student loan interest low.
- John Boehner: lie about the student loan interest issue.
- Mitt Romney: just borrow $20,000 from your parents and start a business.
- Mitt Romney: attend a cheaper college.
- Rep. Todd Akin (R-MO): take the federal government out of student loans completely.