WHAT IS WRONG WITH THE COST OF A COLLEGE EDUCATION?
The problem with the cost of a college education today is easily available government backed loans. Let me explain.
In 1955 when I was in Prep School the following were the costs of some retail items compared to what they are in 2012.
Prep School Harvard Ford Restaurant
Medical 4-dr Filet
School Sedan Dinner
1955 $450/yr $1753. $1.60
2012 $37,000/ $20,000/ $25.00
2012/1955 82.22X 11.4X 15.62X
When I was attending Prep School and the first year of Harvard Medical school I was able very easily able to work the 3 summer months and make the money for the yearly tuition of about $500. When attending Prep School I was working at a flower farm making 50 cents per hour. I worked 80 + hours per week (yes, that was 80 hours!) and made $40-45 dollars weekly. My mother gave me $5 to go horse - back riding at Cataldos and she put the rest in the bank for my Prep School tuition. I could easily make the necessary tuition. I was on a tuition scholarship at Harvard so that helped.
In addition I easily afforded a second-hand Cadillac while attending both Prep School and board and room while at Harvard. My parents who were regular blue - collar workers were easily able to afford the extra money.
Now, you tell me how in the devils name can a regular family afford a yearly tuition of 37,000 required in 2012? They cannot.
So here comes the government – backed loans. The colleges and universities respond by upping their tuition rates to god – forbidden rates. The poor students and their families are thrown into a debt, which is difficult to pay back, especially in our present environment. I could never have been able to afford it even in 1955 if a similar situation were occurring.
It is a real shame that the government sticks its nose in affairs of the regular economy. There is no give - away programs that I know of that corrects financial problems, especially where these problems do not really exist. If individuals were able to work whatever hours they want without government interference.
For 20 years I owned a 4-star Italian restaurant. We hired teenage busboys who were unable to work after 7 P.M. On Friday and Saturday evenings – a time when we began to get very busy, we had to let our busboys go home. Where did the go? They went out in the streets only to get in trouble. What is the government doing getting themselves involved in the free enterprise of business? Many of the child labor laws are predicated on the abuses that occurred in the 1920’s and ‘30’s. Our teenage labor opportunities have change since then and we should update the laws.
nicola michael Tauraso, M.D.