a student takes up fifty three thousand dollars and that's the average 353 grant
for students attending four-year public universities will
according to a new study published by the think-tank demos experience a
lifetime loss
love well in excessive two hundred thousand dollars
fifth a million dollars if you add that up
across all love the student debt that you have the United States which is over
a trillion dollars worth
that means that the lifetime wealth a loss
in america of our students been so in debt is for
trillion dollars you recall before ronald reagan came into office about
eighty percent of the cost of tuition was paid for by state federal local and
schools
state and local governments and schools in about 20 percent was paid for by the
students
so you could work your way through school like my wife did as a waitress at
howard johnson's like I did as a part-time DJ in
pumping gas and working in a you know Bob's Big Boy
and Trowbridge Road East Lansing can't do that anymore because now you gotta
pay
you know now students pay eighty percent of the cost of tuition and state local
federal governments in the colleges themselves pay about twenty percent
because tuition
I'm created a bit of a mess
a train wreck you might say and no mccluskey the associate director at the
Cato Institute's
Center for Educational freedom kato .org
I think she has a solution and that's to
8 Nov welcome to the program well my pleasure I i get on gasoline
you know when when libertarian say freedom I'm guessing what you are saying
is your solution to the problem
is to say to all those students who need to borrow money to go to school
are not that we're gonna go back to the pre reagan times when most a college
education was paid for by governments or by schools
but rather I good luck charlie you're on your own government's not going to help
you out
and I go find a bankster well you know it's a nice thing about being for
freedom is you don't actually have to say
to bed Charlie but what we see is for one thing
the federal government's involvement
in college have led to massive
price inflation so now I respect the partition star but we're gonna give you
what surveyed
to go to school but then we see the colleges and universities both public
and private
raised their prices issued rate you are not only call
confusing correlation with causation
but you're missing the absolute reverse if that the backing out
of government from from college tuition government used to pay
eighty percent of the cost to college tuition when ronald reagan came out of
his nineteen eighty
look it up right now government pays about 22 percent across a college
tuition
as government backed out of that who had to step in students
as students had to step in and pay more more for college where they have to do
borrow yes the government has been helping them borrow
but that's not what's driving the price up what's driving the price up is the
lack of government involvement
bit better actually doesn't fit with any of the debtor
certainly does the other shows you is your first post eight local governments
which was 25 years
have prove with exceptional last two or three years
greatly increased the amount of money they spend on higher education
like that reflects inflation other pretty flat trend for 25 years
on a per-pupil basis yet schools have raised their prices
at rates far in excess of normal inflation for excessive even healthcare
my point was actually very clear my point they've raised there they raise
their rates has a federal government church terms compatriot
yeah if students if if the cost of tuition
is now being paid by students because when you say they've raised their rates
they haven't actually raise the amount of money they're getting per student but
they've raised is the amount
I love that costume education that is paid for by the student and yes
that has increased about four to five-fold because
government support love now that price a tuition has dropped 454
well let me give you another statistic because I guess what I gave you are
ready we're sorry but I am going from sixteen thousand seven hundred a year
39,500 a year and I think he has twenty two thousand dollar increase
that's the money that used to be paid by government that is now paid by students
you can break down actually public colleges and universities
new cancer arrest twenty-five years yes you can save that
they've at for every they have awesome I per-pupil basis
virtue largely because the Roman has skyrocketed
but go ahead and you can take that so they will lose certain aspects for every
dollar they lose
per-pupil public colleges universities have raised their prices
to dollars and so touch with your worst-case scenario
you it's very clear that the colleges are raising their prices far in excess
what there was your question that doesn't explain private colleges
universities all because
they weren't getting that public money your car that private colleges good day
for prosecutors I just called
volatiles make sure that every student can pay that
that is really it bitch really very very clear on this point
so if this is the case with education
why is it not the case with food because the federal government doesn't say to
everybody who's going to buy food
not only will we paid give you the money for that fruit but will give you as much
money as you need for whatever price pet food is
no no the government's not giving anybody money is loaning people money
food stamps they're actually giving people money forty million up from
well I suppose I don't up the federal government gives Pell Grants for 16
they also give tax credits usually to generally wealthier people which should
be eliminated
but the important thing is they say look you want to go to college: whatever
price they want to charge you right now
will make sure right now you have the money to pay that
nobody trusts that for food so are you are you suggest everybody
the way that's too made us are you suggesting that if the federal
government got outta the student student loan business
that instead of people taking out loans from Bank of America
that they were just up going to college well that will depend on the individual
I think that something very important for sale that's that's their best the
cornerstone your argument I think it's nonsense
was right that's actually pretty basic logic and basic economics
you would see the price of college go down you would see some people
to really work sure they need to go to college so I'm not going to do that
you'd seen right now we have half people roughly
to go to college we don't have a great day love this trough we have who wrote
large
don't finish your birth certif people with degrees
for a better script for jobs that don't require more
very clear evidence of massive overconsumption of higher education well
I would argue that although the second statistic is
is conclusive evidence you got a thirty people who are have jobs at
don't you know on I don't require a degree then you know we've got a problem
with our jobs market maybe we should be talking about change and trade policies
in bringing some of our jobs back home
so they not only we do in manufacturing in this country we're also doing the
engineering and support services necessary for that
number one and and what was your first point
well remembered yeah it was very insightful yes can put out I was here
really well as of right here
here's a here's a simple question I used to be
in the inner in California am actually many places across the country
california is most famous for it was the largest I mean it was a it was the
because I have many other countries used to be college was free
an Intel until reagan became governor why didn't
you know and dead so that was you know 100 percent supportive education
why didn't that make things go nuts I mean everything seemed to be working
just fine when college was free
Lincoln started this idea with land grant colleges we have free college
nurses for a long long time
it's interesting because if you look at land-grant colleges for over 30 years
they were complete waste
effect I was just reading about this today in a great history flag red card
or so people
you know congress up the greatest all over 50 on the AC use them in the
instruction
wasn't use for the most people and part of that was because people didn't need
better have
same issues a university was a waste of time
it certainly was and if it had been needed
I think graduates their cars to disagree with you thirty years
almost thirty years a basically wasted time and wasted money
so let's just say if you're
if you're a member lucky sperm club if you're born into
donald Trump or Road Charles Cox family eat
great you got opportunity and if not either negotiate with the bankster
or don't bother going to college which is also not born Abt history of American
education
well before there was heavy government well Griffiths Feeney before Thomas
Jefferson created the Free University Virginia
good the universe virginia does not grammy
it was 330 Virginia registration good people can procure happy
this is that Tom Hartman program near mccloskey can read all about it kato
doubt or
thank you my pleasure