Big education is big business – from huge sports programs to bloated liberal study programs that students are forced to pay for in order to become accountants, engineers and doctors.
And instead of calling for cuts, Senator Elizabeth Warren just wants more taxpayer money to bail out her liberal buddies.
Sen. Warren called on graduates to ‘agitate’ and protest to Congress to get relief.
How about urging colleges to quit jacking up prices to fund liberal courses?
And while students are being straddled with huge student loan debts, university endowments swell to record amounts, with over 90 schools having endowments over a billion dollars, each.
Hopefully President Trump can help provide alternatives by removing restrictions on for-profit colleges which have worked hard to use business solutions to reduce costs.
“During a commencement speech at the University of Massachusetts Friday, Warren told students that decisions made by state and federal lawmakers “heavily influenced” the amount of student loans they’ll have to pay.
“As a practical matter, how much you owe and who has access [to education], is set, in part, by a handful of people who, in a democracy, are supposed to answer directly to you,” Warren said.
So, she implored students to get involved.
“I am not here to make a pitch just to Democrats or to Republicans …. Libertarians, vegetarians, Big Mac-atarians,” Warren said. “Your elected officials are increasingly working only for a few — the very wealthy few — and if that doesn’t change soon, then this country will fundamentally change.”
Warren, a Democrat, has long been pushing for student loan reform. Last month, she cosponsored a bill with Senator Bernie Sanders that would make tuition free for all instate students at community colleges. The measure would also cut interest rates in half on some federal student loans.
The idea behind the bill, which isn’t expected to go far, is to lessen the burden on recent graduates, who are facing the largest debt loads in history.
The average undergraduate student borrower faced up to $30,100 in loans in 2015, that’s the highest average ever recorded.”
The part Senator Warren is not addressing is demanding colleges be more efficient and drive down costs.
The federal government has attacked private for-profit schools which have tried to make higher education more affordable.
President Obama led the assault on for-profit universities and technical schools in July 2015 by cutting off federal grants to students at several private schools.
Some people have complained that major universities are sitting on huge endowment funds while their students are being weighed down by crippling debt.
About 90 colleges have endowments valued at more than $1 billion, according to the National Association of College and University Business Officers. Harvard’s endowment is worth $36 billion, yet they are still hitting students with tuition costs that are going up faster than inflation.
And Senator Warren ignored the biggest problem: Tenured radical professors won’t leave.
The Hechinger Report says:
“Protected by tenure that prevents them from being dismissed without cause, and with no mandatory retirement age, a significant proportion of university faculty isn’t going anywhere. A third are 55 and older, compared to 20 percent of the rest of the workforce, according to the University of Iowa Center on Aging.
And while 36 percent of all workers plan to put off their retirements beyond the age of 65, the proportion of university and college faculty who intend to delay stepping down is more than double that. Another study found that 60 percent of faculty planned to work past 70, and 15 percent to stay until they’re 80.
This dramatic trend foretells more than a future of campuses populated by white-haired professors in sensible shoes and tweed jackets with elbow patches. It’s a big, big problem for universities that are trying to cut costs and improve productivity, making it harder for them to respond to declining enrollments and changing student demand for new kinds of majors, and blocking younger PhDs from entering the workforce.
“Higher education on the one hand is confronting constraints and on the other hand confronting greater needs that have to be met,” said Herman Berliner, who stepped down in August as provost at Hofstra University and now is dean of its business school.
“Yet with faculty staying longer and longer, what you have is resources fixed in place, sometimes in areas where there is very little demand.”
Meanwhile, said Paul Yakoboski, a senior economist, “in some cases some senior faculty simply may not be as effective in the role as they once were.
A certain degree of churn is healthy and productive [and brings in] fresh blood, fresh ideas, people up to date on teaching techniques and research techniques.”