When I went to a state school in 1977, I had to work roughly 11 hours to pay for 1 credit hour. In 2011, a state school education costs on the order of 20-30 hours of labor depending on the school. That represents a decline in the real worth of labor; it’s not just currency inflation.
In the meantime, administration and professor salaries have gone up, a lot. Schools have nice new buildings with landscaping. Dorms are nicer and roomier than my first three apartments. Carpet has replaced linoleum tile and electronic white boards replaced chalk.
How was all this financed? Government subsidized student loans of course. The banks can make the long term loans at reduced rates of interest because the government subsidized and insured them. Of course, the government now OWNS STUDENT LOANS eliminating the middleman. How is that going to make an education any cheaper? It won’t. There isn’t any reason for a university or college to reduce anything. The money spigot is going to keep pouring dollars into the system.
People should remember that a student loan is a voluntary contract. You aren’t required to get a student loan to go to a school you can’t afford any more than you are required to buy a car you can’t afford. You can choose to go to a less expensive school or pay your own way by working or saving.
BTW, an earlier video cut shows the police warning the protesters that they were going to get pepper sprayed and the protesters agreeing to it. The occupy movement isn’t a civil rights movement. Berkley isn’t Atlanta.