Big Education is just as rotten as Big Business.
State colleges are slowly going bankrupt. California’s university system has raised tuition 100% over the past five years - while slashing student aid. When students protested another 9% raise for the next year, campus police staged a brutal crackdown.
The City University of New York (CUNY) was started in the earthy 20th century as a “free” university. But students are protesting there too after tuition and fee hikes. CUNY now faces closing some of its doors.
Even Cooper Union, the high-minded art school who prided themselves as tuition-free for over a century, will start charging students as of fall 2014.
If schools aren’t costing young adults and their families a fortune, they’re busy covering up scandals, reaping huge profits and bilking the government from millions in taxes.
Penn State officials were fully aware of and subsequently attempted to cover up the sexual abuse of minors by a well known football coach named Jerry Sandusky. He almost got away with his crimes because of his connection to athletics and prestigious standing in the community. Sandusky was found guilty and is in prison right now.
Speaking of sports, colleges invest millions of dollars into their coaches and sports teams. Penn State generated $72 million in profit and $52 million in revenue for the 2010-2011 season.
But get this: colleges and universities don’t have to pay a dime of taxes on their tuition revenue or interest on their endowments. That means that Harvard can keep every penny of their $35 billion stash. And every year they haul in about $5 billion more. How’s that for liberal hypocrisy? And while most nonprofits are required by law to give back to the community in some way (hospitals must treat indigent patients), colleges offer absolutely nothing except the dated nobility of educating minds. How is bankrupting families and saddling young people with thousands in debt a service to anybody?
No wonder colleges and universities keep on raising tuition endlessly: it’s a guaranteed way to make more money each year. But where does it all go? Well, we know that the CEO of universities make as much as 40 times more than the lowest paid university employee. Oh, and those CEO’s aren’t any shining examples themselves: the white board chairman of Roger Williams University was caught using the “N” word before resigning.
Wake up. That dorm room, cafeteria, and gym are all part of an extremely clever scheme that is hideously abusing the pubic’s trust, stealing your money and laughing all the way to the bank while doing it all.
It’s the 21st century, the age of information. Give Big Education a failing grade and let’s move on from that old manipulative system.