College Financial Aid Is Killing Us -- Today's Outrage
I'd like to throw another into the mix: Student loans are making college prohibitively expensive. ( Student loans are like an albatross around the neck of our economy.)
What's brought this on, at least for me, was the revelation last year that student loans totaled some $1 trillion. That's a thousand billions, and a staggering amount of money.
My contention is it's the existence of student loans that is driving the cost of college through the roof. For evidence, look no further than venerable Harvard University, with an endowment estimated to be $32 billion. Let's do the numbers, back of the envelope style: