Sallie Mae’s Former CEO Bewildered at UMiami Tuition
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Date: July 23rd, 2021 6:00 PM Author: salmon office
https://www.wsj.com/articles/al-lord-profited-when-college-tuition-rose-he-is-paying-for-it-11627048831?st=w1t352wno8no6rm&reflink=article_copyURL_share
The sting of high tuition hit him several years back when a grandson enrolled at the University of Miami, which currently charges $75,230 a year for tuition and room and board. That is a far cry from the $175 a semester Mr. Lord recalls paying for his own education at Penn State University in the 1960s. He has also paid for the education of three other grandchildren, to attend Villanova University, University of Miami and Davidson College. The bills have approached $200,000 a head.
“It’s criminal,” he said of what schools are charging these days. He has gained sympathy for families of lesser means. “Boy, am I sure glad we saved for my grandkids. If the average income is $40,000 or $50,000 or $60,000, I just don’t know how you do it.”
….
The irony is that for many years Sallie Mae was the government’s partner, and Mr. Lord’s business model—an unusual blend of capitalist finance and govern-ment subsidies—depended on those tuition increases. Mr. Lord acknowl-edges that many of the universities that charged high tuition were also effectively part of Sallie Mae’s sales force. And few profited so handsomely from the tuition increases Lord now resents. At Sallie Mae’s zenith, he said, his stock holdings were worth more than $300 million.
These boomers deserve a special place in hell
(http://www.autoadmit.com/thread.php?thread_id=4884310&forum_id=2],#42831287)
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Date: July 23rd, 2021 9:10 PM Author: iridescent dashing hall marketing idea
come on down
to marco rubio toyota
(http://www.autoadmit.com/thread.php?thread_id=4884310&forum_id=2],#42832231) |
Date: July 23rd, 2021 9:15 PM Author: Bipolar box office crotch
They should emphasize this more. Sallie Mae is always the bad guy, but they're making a few basis points servicing the loan.
The schools are the ones setting the rates and taking the fucking principal. They're the fucking scammers.
(http://www.autoadmit.com/thread.php?thread_id=4884310&forum_id=2],#42832253) |
Date: July 24th, 2021 12:50 AM Author: hideous diverse rehab bbw
"an unusual blend of capitalist finance and govern-ment subsidies"
lol yes, very unusual
(http://www.autoadmit.com/thread.php?thread_id=4884310&forum_id=2],#42833087) |
Date: April 13th, 2023 3:08 PM Author: multi-colored honey-headed step-uncle's house hunting ground
xo is well versed in how useless college is for vocational training AND for soul-enrichment.
It's merely a means to signal that you have more money than hoi polloi, that's 100% it. So really, the higher the price the more it serves its essential function.
And as libs cram every tard into college, there will be MOAR incentive to pay MOAR for a more exclusive signal.
No one, even millennials who bitch about their loans non-stop, wants to be grouped with the unwashed. So until there is an alternative means to signal your separation, the college scam will continue. And honestly, because the separation is really only effectuated through conspicuous spending, any alternative will be unaffordable as well.
High tuition isnt a bug of "college", it is its only feature.
(http://www.autoadmit.com/thread.php?thread_id=4884310&forum_id=2],#46180973) |
Date: July 28th, 2023 10:49 AM Author: startled lay giraffe
"an unusual blend of capitalist finance and govern-ment subsidies"
What? That's how our entire economy works.
(http://www.autoadmit.com/thread.php?thread_id=4884310&forum_id=2],#46600475) |
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