When I went to college, most of us didn't borrow much to do it. The rich kids could afford to pay their way. The rest of us worked summers, nights, weekend, or, in my case, for the university itself here and there during the week. And because the university utilized so much student labor for almost everything, the tuition, fees, housing, and other expenses were kept low enough for us to pretty much pay our way as we went along, maybe with some help from home for those who could get it.
My son and daughter did take out some student loans--our son because he chose to marry an expensive wife--she is no longer his wife--and our daughter because she accelerated her studies to get her degrees faster and that left her less time to work. But both owed less than $10 thousand when they graduated and for those with a marketable degree, that is very easy to pay off.
My son and daugher-in-law are currently putting our granddaughter through college on a pay-as-you-go basis and hope she will obtain her degree without taking out any student loans. It can be done for those who plan for it and manage competently. A living wage is what will pay for what you absoluely need and have to have; not necessarily all that you want.
So why have college cost escalated so much in recent decades? Look to federal government involvement for most of it; unions who won't allow students to do what the union workers do, tons of government tax payer provided grants, and a sense of entitlement that we are owed an education paid for by others. In order to get more and more federal monies, the universities don't even try to do anything economically or efficiently--what they get is based on what they say they need.
You can look at almost anything the government has become involved in--education, healthcare, etc.--and see how costs escalated almost immediately far faster than the rate of inflation in every single case.
If you want more people to earn a living wage, start rolling back the federal government to its constitutionally mandated responsibilities and let we the people handle it. Whenever that happens, wages generally will be in line with what they have to pay for.
Amen brother. 4 of my children have bachelor degrees and two of those have master degrees. #5 has an associate degree. No loans. Young people do not need to start off their lives with debt.
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