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June 7, 2013

Warren misses the mark on education debt problem

(Continued)

And college costs have been outrunning inflation for decades. As has been noted repeatedly, but apparently not enough for Warren to notice, overall inflation since 1986 is just over 115 percent. College tuition has increased almost 500 percent.

Why is that? It might have something to do with tenured faculty (not adjuncts!) being paid more to work less. You know, kind of like Elizabeth Warren being paid $350,000 to teach a single course at Harvard Law.

It might have something to do with senior professors at the nation’s most elite universities getting sabbaticals every third year instead of every seven — when virtually all of those in the “hammered” middle class get no sabbaticals at all.

It might have something to do with college administration costs increasing at twice the rate of overall expenses.

And it definitely has to do with ever-increasing government student loan programs that don’t make college any more affordable for the middle class because as soon as the colleges know the kids have more money to spend, they raise their prices some more. The only people being helped by those loans are those in academia. The students are nothing more than a conduit for it.

But you won’t hear that truth from Sen. Warren. She’s hoping you’ll think the banks are to blame.

The only good thing about it is that this stunt is not even going to convince her liberal colleagues in the Senate. Word is, her bill has no chance of passage.

— Taylor Armerding is an independent columnist. Contact him at t.armerding@verizon.net.

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