Saturday, May 7, 2022

Fairness of Tuition Forgiveness

There is quite the discussion right now about college loan forgiveness. In part simply because of fairness, "I paid my student loans, why shouldn't these lazy folks do the same?"

I am one who paid my college and student loans without any help from my father and step-mother. So I understand the sentiment. 

But I think people do not understand the costs of college now. "Sure college seems expensive now, but was it really that much more than when I went to school?"

Yes. Yes it is, here is a chart of cost per year at any of the University of California Campuses.

Therefore: yes, yes it is that much more. Twenty-five times more. Let's take a look at how much more various ages of people paid. Costs here do NOT include housing, books or food.

If you started UCLA in 1960 your total costs of tuition and fees for all 4 years would be $120
Age now = 80

If you started in 1976 (like me): total costs = $2,520
Age 62 (me)

If you started in 1985: total costs = $5,184
Age = 55

If you started in 1995: total costs = $18,136
Age = 45

If you started in 2005: total costs = $18,136
Age 35

If you started in 2010: total costs =$53,380
Age 30

If you started in 2015: total costs = $57,840
Age 25

If you started in 2020: total costs will be $64,564
Age 20

Think about that. UCLA and the University of California System is a pretty typical of state school in terms of cost. And $64,564 is not that much for a top 10 rated college. 

But, you have legislators my age, deciding that students should all pay their own fees. Even though student tuition only has increased by over 2,562%.

If that same percentage was used to raise average yearly wages, the average yearly income would now $347,671 dollars. It is not. But if it were, the argument that younger people should pay all of their loams off makes much more sense.

So us old fucks and legislators, a full 4 years of college was dirt cheap. And saying you paid it all, is not at all comparable to students in college right now.





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