Colleges give new aid to keep students afloat

Shammrie Brown was sure he would have to drop out of Aurora University when he learned that he couldn't register for next semester without paying the balance of his tuition. Full Story
Joe College

Indianapolis, IN

#1 Dec 15, 2008
Colleges and universities increased their tuition and fees at a rate of over 2 and a half times the rate of inflation for two decades now. Administrators spent the students' money like water. Why? The trigger for this was the exact moment when most students got loans and grants to pay for college instead of they or their parents paying out of their own pocket. There was a sense that nobody was paying for it, but they were. There were no constraints on the college administrators to hold cost to reasonable levels, so they just ballooned. Most people have no idea what goes on at our nation's universities and the 18 and 19 year-old students aren't experienced enough to know.
Yeah right

Schaumburg, IL

#3 Dec 15, 2008
Once these kids graduate, they will have no trouble filling out the unemployment paper work.

Start welfare early, democrats are counting on you.
monica

Columbus, OH

#4 Dec 15, 2008
This is hilarious that the Northwestern spokesman would say "we still dont know where this is going". Has the guy been comatose for the last 2 months? Its time for a reality check for colleges, just like for everyone else.
Hmm

Chicago, IL

#5 Dec 15, 2008
I think the feds should allow all student loan interest to be tax deductible. If the government says that everyone should go to college in order to get better jobs, it should help people do that. Allowing all student loan interest to be deductible will help students pay those loans off faster. As it currently stands, at most a person can deduct is up to $2500 in student loan interest a year. In real money terms, it might end up being a couple hundred saved off your taxes a year. Make student loan interest like mortgage interest, allow all of it to be deductible. I paid over $10k in student loan interest last year, but was limited to deducting less than the $2500. In the end that $10k only resulted in about $100 tax savings. What good is that?
Dave

United States

#6 Dec 15, 2008
These are the same universities who go begging for money every couple of years in order to boost their endowment funds. How about they use this money to help students pay tuition? Isn't what that should be for so that maybe someday that graduate might return some money back to the school as a gift? At least that money is used keeping people in school and graduating instead sitting in an investment portfolio that never gets used.
John

Lombard, IL

#7 Dec 15, 2008
It's good to see my Alma mater take the lead....nice going Aurora University, I'm proud to know ya!
Pete

Chicago, IL

#8 Dec 15, 2008
Joe College wrote:
Colleges and universities increased their tuition and fees at a rate of over 2 and a half times the rate of inflation for two decades now. Administrators spent the students' money like water. Why? The trigger for this was the exact moment when most students got loans and grants to pay for college instead of they or their parents paying out of their own pocket. There was a sense that nobody was paying for it, but they were. There were no constraints on the college administrators to hold cost to reasonable levels, so they just ballooned. Most people have no idea what goes on at our nation's universities and the 18 and 19 year-old students aren't experienced enough to know.
You are exactly right. It's been obvious for years that colleges are spending the money just because its there. Expanding access to student loans just drives up the cost of college.

The real problem is parents will pay anything to get their little darlings into the big name schools. It's not worth a lifetime of debt just to get a liberal arts degree from Loyola. State school graduates have just about as many opportunities for a fraction of the cost.

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