The Myth of Working Your Way Through College

Once upon a time, a summer spent scooping ice cream could pay for a year of college. Today, the average student's annual tuition is equivalent to 991 hours behind the counter.  

To take a close look at the tuition history of almost any institution of higher education in America is to confront an unfair reality: Each year’s crop of college seniors paid a little bit more than the class that graduated before. The tuition crunch never fails to provide new fodder for ongoing analysis of the myths and realities of The American Dream. Last week, a graduate student named Randy Olson listened to his grandfather extol the virtues of putting oneself through college without family support. But paying for college without family support is a totally different proposition these days, Olson thought. It may have been feasible 30 years ago, or even 15 years ago, but it's much harder now.

Is it any surprise that so many students today are suckered into taking out non-dischargeable loans, in growing chunks, to pay for their bachelor's degrees? More than two-thirds of recent graduates are carrying debt—and some of them will be paying it off for decades to come. Studying computer science at Harvey Mudd may be worth it; majoring in art at Murray State probably isn't.

DYI Comments:  The reason schooling costs are rising IS student loans.  The Universities know full well that with a ever expanding student loans they can raise prices at will.  End student loans; having loans going forward dischargeable in bankruptcy the cost escalation would come to a grinding halt.

DYI