The money young people put into colleges is enough to start up multiple failed businesses before getting the hang of it. Instead, they spend it to be taught nothing, waste six years of their lives, and get left with endless student debt.
One third of all student debt exceeds $100K and borrowers now leave school owing on average about $34K, not to mention tens-of-thousands in on-campus accommodations and college supplies. Unlike other trillion dollar industries, colleges are tax exempt, meaning no taxes on their real estate, tuition, sponsorships or donations. They also get 20% of their revenue from state taxpayers in the form of state appropriations, coming out at $900M. Historically, college tuition increases have often outpaced general consumer price inflation.
An endowment is what colleges use to invest all of this stolen or coerced money. Yale's endowment is valued at $31B; Harvard's at $56.9B, which is worth more than some countries. Harvard could pay their students tuition for 120 years with this, but instead they invest it in things like private prisons and the war indistry, like Yale does with KPI Tactical, which provides services for the military.
George Caplan is a teacher at George Mason University who only has to teach five hours a weak, 30 weeks per year. He says: ''There's people who would consider that a horrible burden... I'm a whistle blower.''
The lure - This is why colleges make up fake courses like social justice, gender studies or multicultural studies, which don't actually prepare young people for a career.
It's also why they have movie theaters, pools, golf courses, rock climbing, and five-course dinners.
The Cry Closet was created by art student, Nemo Miller, for students to relieve stress during finals; it's basically a box full of stuffed animals with a timer.
Sallie Mae - In the early 70s, banks didn't have any more money to offer students, so in 1972, financial institution, Sallie Mae started buying loans to students from banks, allowing them to continue lending. Sallie Mae would then make back all the money the students repaid, plus their own percentage.
In the 2000s, Sallie Mae started paying college loan officers to recommend them as the best loan provider, sponsoring cruises and luxury trips for them. They would place Sallie Mae employees at college call centers, tricking students into thinking they were talking to a student counselor, and that Sallie Mae was really the best option for them. When George Bush took office in 2001, he cut back government student loans, knocking out competition for Salie Mae.
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