This Blog is a Continuation from:
Day 39: International Crime Research: Education Fraud Part 1 – Denying Children a Practical Education
Day 40: International Crime Research: Education Fraud Part 2 – Creating Debt for an Education.
Day 41: International Crime Research: Education Fraud Part 3 – the Textbook Deception
Day 42: International Crime Research: Education Fraud Part 4 – the Recession
Day 43: International Crime Research: Education Fraud Part 5 – the Recession and the Consumer Part 1
Day 44: International Crime Research: Education Fraud Part 6 – the Recession and the Consumer Part 2
Day 45: International Crime Research: Education Fraud Part 7 – the Recession and the Consumer Part 3
Day 46: International Crime Research: Education Fraud Part 8 – the Recession and the Consumer Part 4
Day 47: International Crime Research: Education Fraud Part 9 – the Recession and the Consumer Part 5
Day 48: International Crime Research: Education Fraud Part 10 – the Recession and Markets
Day 49: International Crime Research: Education Fraud Part 11 – The recession and Supply and Demand
Governments fueling Debt Fraud:http://topdocumentaryfilms.com/college-conspiracy/
“During an economic downturn when Americans are losing their jobs, their primary instinct is to seek higher education in order to make themselves more attractive to potential employers and better position themselves to receive a job, however how are Americans supposed to spend twenty seven thousand two hundred ninety three dollars per year for college when they have no savings or income to pay for it? The US government with the backing of the federal reserve in the same way they created the real estate bubble by providing mortgages to all Americans, regardless of whether or not they had any capacity to pay the loans back, has been using the exact same easy lending practices to create one of the largest bubbles in US history - the college bubble. College students borrowed one hundred and six billion dollars in total student loans for the 2009 - 2010 school year, up from ninety six billion in two 2008 – 2009, up from ninety four billion in 2007 – 2008. Eighty seven billion in 2006 – 2007 and eighty three billion in 2005 – 2006. Total student loan debt in the US currently stands at eight hundred and thirty billion dollars and now exceeds credit card debt."
The Student Loan Debt Bubble
#1 After adjusting for inflation, U.S. college students are borrowing about twice as much money as they did a decade ago.
#2 According to the College Board, college tuition is absolutely soaring. The following comes from a recent CBS News article....
Average tuition and fees at public colleges rose 8.3 percent this year and, with room and board, now exceed $17,000 a year, according to the College Board.
#3 Average yearly tuition at private universities in the United States is now upto $27,293. That figure has increased by 29% in just the past five years.
#4 In America today, approximately two-thirds of all college students graduate with student loan debt.
#5 In 2010, the average college graduate had accumulated approximately $25,000 in student loan debt by graduation day.
#6 According to the Student Loan Debt Clock, total student loan debt in the United States will surpass the 1 trillion dollar mark in early 2012.
#7 The total amount of student loan debt in the United States now exceedsthe total amount of credit card debt in the United States.
#8 Over the past 25 years, the cost of college tuition has increased at an average rate that is approximately 6% higher than the general rate of inflation.
#9 Back in 1952, a full year of tuition at Harvard was only $600. Today, it is$35,568.
#10 The cost of college textbooks has tripled over the past decade.
#11 One survey found that 23 percent of all college students actually usecredit cards to pay for tuition or fees.
#12 According to recent Pew Research Center polling, 75% of all Americans believe that college is too expensive for most Americans to afford.
#13 College has become so expensive that it is causing many college students to do desperate things in order to pay for it. For example, an increasing number of young college women are actively advertising on the Internet for "sugar daddies" who will help them pay their college bills.
#14 The student loan default rate has nearly doubled since 2005.
#15 Approximately 14 percent of all students that graduate with student loan debt end up defaulting within 3 years of making their first student loan payment.
The Quality Of College Education In America Stinks
#16 The typical U.S. college student spends less than 30 hours a week on academics.
#17 According to very extensive research detailed in a new book entitled "Academically Adrift: Limited Learning on College Campuses", 45 percent of all U.S. college students exhibit "no significant gains in learning"after two years in college.
#18 Today, college students spend approximately 50% less time studying than U.S. college students did just a few decades ago.
#19 35% of U.S. college students spend 5 hours or less studying per week.
#20 50% of U.S. college students have never taken a class where they had to write more than 20 pages.
#21 32% of U.S. college students have never taken a class where they had to read more than 40 pages in a week.
#22 U.S. college students spend 24% of their time sleeping, 51% of their time socializing and 7% of their time studying.
#23 Federal statistics reveal that only 36 percent of the full-time students who began college in 2001 received a bachelor's degree within four years.
Self-Forgiveness follows in Part 2
“35 Shocking Facts That Prove That College Education Has Become A Giant Money Making Scam.” The American Dream. [http://endoftheamericandream.com/archives/35-shocking-facts-that-prove-that-college-education-has-become-a-giant-money-making-scam]. Retrieved on 24 Sep 2012.
“College Conspiracy.” Top Documentary Films. [http://topdocumentaryfilms.com/college-conspiracy/]. Retrieved on 10 September 2012.