College costs for US citizens are soaring, while wages for US citizens are depressed. Is there some secret connection?
The Motley Fool in October 2009, posted an interview about a new book by two professors at William & Mary, “Why Does College Cost So Much?” The professors, claim that costs are rising because of expensive equipment such as computers, and because of wage competition where colleges must pay wages comparable to industry to attract professors. The equipment costs claims do not make any sense because the cost of computers has been declining not rising. The wage competition also does not appear justified because of since the 1990’s, many high tech jobs have seen wages decrease or stagnate. Moreover, many classes are being taught by low paid foreign graduate students.
The professors claim that most students do not bear the full costs. They talk about financial aid and FASFA. However, FASFA does not help middle class Americans who bear the financial brunt of these rising college costs depleting their retirement savings. With US wages depressed it is hard for parents to pay for college. Their children are forced to take on big college debts that will be hard to pay. In Chapter 4 of my book authored through the Knowledge Foundation for America, LLC the real reason behind the soaring costs are exposed. The one factor that correlates most directly with rising college costs is the steep increase in the number of foreign students in US universities. Americans are being taxed to fund recruiting foreign students. And, Americans are being taxed to supplement their education.
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