Cute.
You'll get no argument from me that college is way too expensive. I also would not argue that going to college is for everybody, it's not. In fact, I give the advice, young people should learn a trade, you can do every well and it's probably cost effective, pretty safe and it worked for me. Enrollments however, are up.
Also up is financial aid. According to collegeboard.com, about two-thirds of fill time students paid for college with the help of financial aid. As for local, according to US News and World Report, for the past five years, state spending on higher education is also increasing. Of course the amount varies per state. New York is around $10k and Wyoming is around $19k.
Fed rate is 2.5% today and the average student loan rates range from 4.8% to 7.4%, so not quite 10X.
Correct me if I'm wrong, but people in Germany making $50,000 a year pay an income tax around 42%, it's 12% here for Federal. So that shit would have to change and even if you tax the wealthy 60%-70%, I doubt that covers it.
Back to the news....
My original point was, this is a case of people that had the money to pay the way and chose to cheat the system to get their kids into schools they did not have the smarts for. It's still a story that needs to be told and they deserve to be punished, and yeah they probably unseated a few kids along the way that should have been admitted. That should upset people.
My secondary point was, we always here the argument of cutting education funding but more times than not, the budget goes up. Right or wrong, that is a fact. Also, universities and community colleges continue to raise tuition. Administrative costs seem to play a big part in this and I'm sure the salaries of University Presidents, coaching staffs, etc. plays a part. I mean come on, the President of NYU earns $2.5 million a year and will get $800K in annual retirement. The guy at USC, $1.5 million plus a $3.2 million bonus. Right or wrong, this shit is true.