Universities in America operate under the pretense that it costs $30,000 to $50,000 to attend college. They do this purely out of greed; and the government allows it because they want to enslave you to as many years as they can of indentured servitude to pay off so-called “student loans” of which do nothing but pay the million dollar salaries of the few educational elite such as the “president” of the university. And then the trillions extra in “interest” and “fees” get paid to government bureaucrats and the elite.
However, the US Educational system is fully aware that the true cost of a college education is less than $500 for 4 years of education (including books). For an online education it is even less. In fact, with the amount of money given, students should literally be PAID to go to college, not the other way around. The numbers below are not exact, but even allowing for tens of millions in variation won’t make one bit of difference to the point of this article.
For example, Liberty University knows that 100,000 students paying an average of $10,000 per year in “tuition” equates to 1 billion dollars a year paid to the university (mostly funded by loans). However, with 95,000 students taking online courses, only a few hundred professors are needed. However, even with 1,000 professors, which is a massive number, all being paid an average of $50,000 per year, the total amount needed to pay the professors is only $50 million. Even taking another $50 million to pay for expenses to run the college, which is to say everyone is living in ultimate luxury with regular massages, living expenses paid for, massive offices, etc., $100 million is a far cry from the $1 billion paid by students each year.
However, you forgot about endowment. For example, Liberty University’s endowment is over $100 million dollars ($101,837,308)! And let’s not forget private donations from alumni! With at least 5,500 (probably far more with a 100,000 students per year base, but this is the average) averaging around $30,000 each (some give $5, others give millions), that equals another $165 million dollars! So between endowments and private donations ALONE, the university earns over $265 million dollars! This is enough to pay 5,300 professors and staff an average of $50,000 per year, and this is all before any student has even paid a single penny! (Ironically, with a 19:1 faculty to student ratio and 100,000 students, that makes 5,263 faculty. Coincidence? Maybe not.)
But what about the $1 billion paid by students each year? Well this is over a billion dollars far above and beyond the cost of attendance. In other words, college is actually, truly, free (funded by endowments and alumni)! However by paying $10,000 per year you are not paying the salaries of the professors, or even the campus costs, offices, or any buildings. That is all covered before you pay a single dime. But what about the multi-million dollar and multi-billion dollar buildings (literally, mansions and palaces)? Well you forgot that each of these buildings is named after an alumni for a reason. These buildings are not bought with your tuition. These buildings are paid for out of additional donations (not part of the $165 million in private donations) by individual ultra-rich alumni. For example, at one major university, an alumni donated over a billion dollars to build a massive recreation center. These fancy ultra-expensive buildings then lure more victims into paying money for an education that that is already paid for.
Your $1 billion dollars, not including books, allows universities to hire whole departments and teams upon teams of useless staff, along with multi-million dollar per year people who sit in an office occasionally, like so-called “presidents”, “vice presidents”, “board members”, etc. Whereas the job these people are doing is worth maybe a middle-class income ($20,000 to $50,000 per year at most), instead they are making millions upon millions of dollars. You are being robbed of your money, and then this money is paid for by the federal government who then illegally and unconstitutionally makes this fake “loan” unable to be discharged in any bankruptcy, and if you default they can use any means necessary (including unconstitutional and fascist methods) to collect the debt, during which time they can multiply the loans many times the original amount. Many “owe” millions when they only “borrowed” $10,000 (which was used only to pay the salaries of some people that had nothing to do with their education).
This isn’t to bash on Liberty University specifically. In fact, Liberty is better than many colleges out there, and they have good professors who truly care, and a solid and highly accessible education. However, by still charging outrageous tuition ($10,000 per year when it should literally be free since tuition is already paid for), they aren’t any better than other colleges with regards to the financial side of things. It’s also worth noting that most for-profit and especially “elite” college, are far, far worse, with a massively higher endowment, far greater private donations, far fewer students, far fewer faculty, and far greater profits (read:robberies).
In short, the US Educational System combined with the Federal Loan Program is the biggest scam not just in US History, but the largest financial swindle in all of human history combined! Just a couple millenniums ago (when the world population was in the millions, not billions), the entire world could live for hundreds of years off what the US Education System steals from honest Americans in just one year (yes, even when adjusted for inflation!).
And if you’re dubious, just look how many other countries offer absolutely free college (to their own citizens, not you). How could they afford it? The same way. The only difference is that those countries don’t swindle extra money out of the students. The education is already free, and they realize that it’s beneficial for an economy to have educated citizens without trying to make a profit for no reason other than greed.
The higher educational system globally is already structured to pay for itself though private and government funding. However, American universities saw an opportunity to exploit the poor, and hence the rise of for-profit, paid education (even so-called “non-profit” is actually for profit because the people in the universities are still making huge profits through the salary loophole, and the government is still earning massive profits through their Federal Loan fraud).
Million upon millions of honest Americans just trying to get ahead in life are swindled out of their money, years of their life (and sometimes their entire life). Then they are manipulated and indoctrinated into believing they are paying for their “education” instead of the truth that they are literally being robbed in broad daylight.
To clarify, education itself is not the fraud. College is something good and necessary for the advancement of society. Rather, the fraud is paying hundreds of thousands of dollars (on average, after federal loan “fees”) for college when it’s already paid for. What this country needs is a rise of completely free colleges funded solely by endowments and private donors, the elimination of billions of unnecessary flagrant expenditures. The university could still offer highly competitive salaries to professors, and still not charge a dime to students.
Depending on the endowment and funding of these colleges which offer free tuition for a high-end education, even living expenses could be free. With an influx of highly educated citizens with no debt, there will be many more successful small businesses, and trillions of dollars going directly into the economy instead of the black hole of of the government for “student loans”. There will be a massive spike in they economy’s health, a drop in poverty and crime, a drop in unemployment, and an ease to a growing civil unrest.
Will this happen? Not as long as good Americans sit by and do nothing. As Edmund Burke said, “All that is necessary for the triumph of evil is that good men do nothing.” What’s more likely is that America will become increasingly more “progressive” aka socialist, a rise in unemployment, a bottoming out of the economy, a rise in poverty and crime, growth of the separation between the rich and poor, a lower educated population drowning in debt and in poor health largely due to financial stress, and a population increasingly more enslaved to the increasingly socialist system. Those who are smart will leave America before it’s too late, and within a few decades America could sink into a second-world economy.
If things continue as they are, America will eventually lose its status as a world power, poverty will become rampant (as if it isn’t already), and America’s enemies will pounce on the weakened nation. The economy will collapse, a fully socialist government will emerge, civil rights will be impeded, the constitution will be mostly eliminated, and martial law will be declared (or some semblance of it). The power that America once had will be gone, and what’s left will be the shambles of a once great society, and everyone will be to blame. Sound like an eccentric post-apocalyptic scenario? Come back to me in 30 to 50 years if things continue as they are and see how close this is to the truth.