How schools created the student loan debt problem

 Breitbart:

On Friday’s broadcast of Newsmax TV’s “The Record,” Harvard Law Professor Emeritus and Newsmax Legal Analyst Alan Dershowitz said that the bad behavior of universities is a large driver of student loan debt and even said his own institution has engaged in the same behavior and is “like a mega-corporation and the tuition reflects it.”

After host Greta Van Susteren said that she finds “universities, sometimes, reprehensible.” Dershowitz responded, “Oh, they are.”

He added, “When I started teaching at Harvard in 1964, we had essentially a couple of buildings, a few secretaries and administrators. Now, it’s like a mega-corporation and the tuition reflects it. And it — and they do have a good scholarship program for kids who can’t afford to go, but…ordinary Americans can’t afford it. People who are poor get aid, but middle-class people who work hard and make even a couple of $100,000 a year, which is a lot of money, can’t afford education today, so something has to be done about that. And universities bear a lot of responsibility for it, but Congress has to take action.”
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A lot of young people are avoiding college these days because of the cost.  When I began college in the sixties the tuition per semester at the University of Texas was $50 and fees would push the cost up close to $100.  My biggest expense was paying for room and board.  It was much more when my kids were in college, but was still nothing like what it is now.  The middle class cannot afford to send their kids to college without assuming huge loans.  Dershowitz nails it.  I have grand kids who are avoiding the high cost and finding jobs.