Comment Re:US colleges don't come cheap (Score 1) 1138
Cambridge is, in fact, a state-funded university with an extremely large endowment. From Wikipedia:
Comparisons between Cambridge's endowment and those of other top US universities are, however, inaccurate because being a state-funded public university, Cambridge receives a major portion of its income through education and research grants from the British Government. In 2006, it was reported that approximately one third of Cambridge's income comes from UK government funding for teaching and research, with another third coming from other research grants. Endowment income contributes around 6%
While Harvard is obviously an extreme example of cost, many students today are putting themselves through college by taking out loans (both government and private). They often have little financial support from their families and think that life will be all peaches and cream after they get their degree because they will obviously make enough to cover their costs.
University is not the only type of education that is taking monetary advantage of its students though. Some trade schools (notably the Culinary Institutes) are charging $30,000 for a "culinary arts" degree. I had a friend who went to one of these schools for 18 months to get his degree. However, after putting himself through school and working full-time at Trader Joes, he was shocked and amazed to find out that most jobs available to graduates of the program were less than what he was currently making as a grocery handler/stocker. How do you pay back a private $30,000 loan on $9-10/hour and have enough left over to provide for your own living expenses?