The recent college tuition scandal is a sad example of how rich parents have been paying to get their 
kids in the college parents think is the most prestigious. There are 51 parents now who have pled guilty 
to paying huge amounts of money to this Singer character to bribe college officials, coaches, and
 administrators. This has been going on a long time. Maybe some serious jail time for these rich
cheating parents will slow down this corrupt practice, but big money always talks.

There is a much larger scandal, however, that has been going on even longer. The corrupt student loan 
situation has indebted hundreds of thousands of hard-working students and parents to the tune of almost
 $1.5 trillion in debt. In 2019, one in five Americans are carrying the burden of this debt, and it will
 take them 10-20 years to pay it off. You have heard most every democratic presidential candidate
 support some form of free college tuition or forgiveness of this debt. The trouble with free college is
 that it only transfers this debt to the taxpayers — many of whom never attended college.

College tuition and room and board now cost about $50,000-70,000 per year. That means parents will pay 
about $200,000-$300,000 for a 4-year degree. Many wealthy parents are willing to cheat and lie to get 
their kids into Stanford, Yale, USC and Harvard. Facts show, however, the prestige of a university has 
little to do with what a student learns, how happy they are in college, or how successful they will be 
after graduation.

Another strange fact is the 25 colleges receiving the largest endowments also bring in 
a whopping $6.9 billion in DOE funding — despite having a quarter trillion in assets. The irony is, the
 more tax-deductible endowments a college has, the higher the tuition. Isn't it suppose to be the 
opposite of this?

That huge amount of cash could easily be used to subsidize the out-of-pocket costs paid by parents, many 
who suffer financially trying to put their kids through school. It's time the government steps in and 
taps into these massive endowments, eliminates the tax status of this money, and forces colleges to 
sign on to student loans as a co-signer. They should bear some of the risk of this debt because now 
they just float through with no risk while they get richer and richer.

David Burns


Recommended for you

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.