The Earth Chronicles December 2, 2020
As a politician, your career lives and dies by the number of votes you get. During the 60â€™s, the public thought it only makes sense that they should be able to vote. To get someone to vote for you, all you have to do is promise to solve whatever their biggest pain point is. College! This is The College Racket: Historyâ€™s Greatest Money Making Scam
The minute students could get loans so they didnâ€™t have to pay out of pocket â€“ colleges started jacking up their prices. Prices started going up, and it became a feeding frenzy. Colleges have started competing on who can have the best amenities to get that tuition money. And with more amenities, bigger campuses, bigger staff, our expenses have gone through the roof!
Letâ€™s take Rutgers University for example: they have over 71,000 students at an average of around $18.5k in tuition each. But universities like Rutgers do have one advantage over these billion dollar companies, itâ€™s that those billions are tax free. So, you opened up your college for business, you have all this tax free money pouring in, you canâ€™t let it just sit there and collect dust, now can you? So what should you do with all this money?
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