ER: Couldn’t agree more. I see this from two differing and distinct perspectives. As a business owner in the blast engineering and protective design business, we hire only M.S. and PhD pedigreed engineers, due to the very stringent nature of our business. Thus, it’s not uncommon to hire engineers carrying $150k or more in student debt.
As a coach who counsels high school athletes on college selection, the first thing a recruiting coach will mention is the tens (or hundreds) of millions that have been plowed into their football facilities. Watch an Oregon football game and you’re seeing a team that has dozens of different helmet, shoe and uniform configurations (courtesy of Phil Knight of Nike, an Oregon alum). While I have no issue with alum donations, Oregon has used this to not only attract students, but raise the tuition rate as well. I love football, but it has jack to do with the quality of education being offered. Even formerly “off the beaten path” schools are using athletics as a recruiting tool to attract non-athletes and raise tuition rates accordingly. I’ve seen Division I schools that have locker rooms and player amenities that rival the pros.
With over a trillion dollars in outstanding student loans, something has to give. These debts are not dischargeable through BK and have to be exerting pressure in other areas, like retarding the ability of those in their 20s and 30s from purchasing a starter home.
