The Best of Reason: The Real Student Loan Crisis Isn't From Undergraduate Degrees

Misled by a bad law, graduate students are drowning in debt.

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The Best of Reason: The Real Student Loan Crisis Isn't From Undergraduate Degrees

This week's featured article is "The Real Student Loan Crisis Isn't From Undergraduate Degrees" by Emma Camp.

This audio was generated using AI trained on the voice of Katherine Mangu-Ward.

Music credits: "Deep in Thought" by CTRL and "Sunsettling" by Man with Roses

Comments

[Medulla Oblongata]

I've made a case before that a significant portion of these "burdensome" student loans were spent not on education, but on providing "students" with an extravagant lifestyle (and probably one in which they will not be able to sustain themselves later). When student loans were used to fund a latte-sipping experience and then they cry about how they cannot pay them back, my sympathy strings snap.

E.g., at The Knox student housing at Tennessee...

At The Knox Apartments, everything residents need is right outside their UTK apartment. Looking for a quiet place to study? Camp out in one of our individual study rooms. Need to de-stress from classwork and relax with friends? There’s no place like The Deck, our elevated outdoor entertainment space. Prefer to unwind indoors? Drop by our expansive clubhouse or our cutting-edge, 24-hour fitness center. It’s all here:

Community Amenities
The Deck
Hot Tubs
Open-Air Theater
Grilling Areas
Hammocks
Pet-Friendly
Dog Park
Resident Clubhouse
Big-Screen TVs
Pool Tables
Individual Study Rooms
Gated, Covered Parking Garage
24-Hour, Cutting-Edge Fitness Center
Media Cafe Computer Center
Coffee Bar
Community-Wide Internet

Apartment Features

Fully Furnished Apartments
High-Speed Internet, Cable & Trash Included
Individual Bedrooms
Private Bathrooms With Granite Countertops
Roommate-Matching Services
In-Unit Washer & Dryer
42-Inch Flat-Screen TV
Stainless Steel Appliances
Modern Kitchen With Granite Countertops
Spacious Closets In Each Bedroom
Individually Locked Bedrooms
Wood-Style Floors
Ceiling Fans In Each Room

[Medulla Oblongata]

As someone who spent a lot of time on college campuses (albeit mostly for football games over the last 30 years), I observed personally what I believe is a causal effect. When Georgia (*) and later South Carolina instituted "education lottery" (Powerball and Megamillions...), they did so with a stipulation that education in the states would receive the lion's share of the proceeds, which was most clearly evident in the scholarships provided to all A and B students who chose to attend in-state schools. A couple of observable actions followed: in-state school attendance and class sizes exploded, competition to get into the flagship universities (University of Georgia and Georgia Tech) became almost overwhelming which led to second-tier schools like Valdosta State, Georgia State, Georgia Southern to expand dramatically as well, housing shortages grew. The influx of cash and the shortage of on- and near-campus housing created a market and the market responded and especially targeted well-off families that now had extra cash to spend (they had already saved for and could afford the normal costs of college, but now had $3K extra to spend, too). Large apartment complexes grew up near campuses geared toward "rich" students, for whom living in a traditional dorm room would be an affront to their delicate senses. Parents could do the math and many realized that they could buy one of these condo apartments (which often held 4 students), put Junior in one room, rent out the other 3 rooms, take $3000 from Hope, take out a low-interest student loan for more "pocket money", take the depreciation and other costs, and Junior could live in a really nice apartment for four or 5 years (or longer if multiple children might go to the school). Selling the units once everyone graduated was never a problem (pay back the student loans). So more and more of these popped up.

A secondary effect: grade inflation. Students who slipped below the Hope threshold would lose access to the scholarships. Teachers, especially high school teachers under pressure from parents, became loathe to give Junior the C or D he had earned. No teacher wanted to "cost" a family thousands of dollars, so they just started handing out B's no matter what the student actually deserved. The legislature even got into grade inflation act 4 or 5 years ago...they ordered that while the 3.0 GPA was still required, that A's would continue to earn 4.0 points, but B's would now earn 3.5 (instead of 3.0), and C's and D's would count as 2.5 and 1.5 respectively instead of 2.0 and 1.0.

For example of "luxury student housing"

About EPOCH Clemson - Luxury Student Living

EPOCH is Clemson's newest student living community with all inclusive rates is located minutes from campus, on Lake Hartwell, and across the street from Hartwell Village.

Life on Purpose.
From our fully furnished apartments with state-of-the-art amenities, to our game-changing outreach opportunities and activities, EPOCH was built with purpose and backed by service that puts student success above all else. The result? An entire community that cares more, does more, and, ultimately, lives more.

Studying. Hanging with friends. Binge-watching your favorite shows. A lot happens in your space and our cottages, townhomes, luxury flats, and brownstone floor plans are thoughtfully designed for it all. So whether you’re looking to live with your whole crew (check out cottage pods), for rooms with a view, or just central living spaces that better vibes with your tribe, we get you and we’ve got you.

Unique Features

Boat Slips Available For Rent
Free Coffee Shop
Hammocks
High End Vending Machines
Kayak And SUP Board Storage
Market Pavilion
Spray Tanning Booths
Swim And Fishing Dock
Valet Trash Included

(*) HOPE Scholarship is a merit-based award available to Georgia residents who have demonstrated academic achievement. A HOPE Scholarship recipient must graduate from high school with a minimum 3.00 grade point average (as calculated by GSFC) and maintain a minimum 3.00 cumulative postsecondary grade point average to remain eligible. The scholarship provides tuition assistance to students pursuing an undergraduate degree at a HOPE Scholarship eligible college or university in Georgia.

[JesseAz]

Nothing Emma writes can be considered best.

[Rev Arthur L kuckland]

What if she reposts the lyrics to the karate kid Theam song?

[Edmund Burke's Hastings spy]

Is there a bigger waste (regardless of outcome)than having your moneybags parents spring so you can take an SAT course instead of actually learning. Does it measure learning or SAT readiness.

Now in my 6th year teaching college I see that often the worst students are the ones who get
A's , that is all they want, the A. they avoid the tough courses, they want to know 'will this be on the test', and they are simply containers that you have to fill and then 'Thanks, I'll be on my way"

[Edmund Burke's Hastings spy]

Notice ,too ,that the 2 course areas that students are most bovine are MATH and Languages (esp Classical) so that if reading and writing and rithmetic meant anything it does no more.
Best to take the Neo-colonial anti-homosexual history of Amercan hegemony in the 4th World " course. If you laugh, you laugh on the basis of no data,.

Do yourself a favor, pick some knowledge area you esteem and check the latest PhD disseratations.

-Or the brilliant wife or our brillaint President's dissertation
https://www.documentcloud.org/documents/20407101-jill-jacobsbiden_dissertation

[It's only a paper moon, Nominalists]

I watched the stupidest woman in politics in my lifetime promse
End of Tuition debt
$25K to new homeowners
Legatlization of recreational pot

It's bread and circuses. I want nothing from you but your vote so I wll give you whatever you want.