Taken from JRE #1508 w/Peter Schiff: https://youtu.be/OK2zgeJLVwU
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Taken from JRE #1508 w/Peter Schiff: https://youtu.be/OK2zgeJLVwU
Video Source
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Sounds like he’s pointing fingers but not providing a solution
I think Peter schiff makes a great point. But I have a few questions comments. He said that most people back in the day worked a summer job and paid for college out of pocket. I’d like to see him cite data on how many people did that versus how many people had family money or family co sign a private loan for them if any exists. Also, I calculated it. If you have a summer job let’s say making 14$ per hour 40 years per week. For a 16 week summer that’s about 9k covering taxes. Even if you went to a state school atleast in PA that wouldn’t even cover all the tuition (most but not all) that excludes other costs like rent, food etc… plus you have to figure if someone is in a hard degree field like pre med which requires lots of studying , research, volunteer work people wouldn’t be able to work much at all during the school year. Then also once someone gets into med school, dental school, pharmacy school, law school you can’t work to make money in those programs. So how would someone pay for living expenses let alone tuition? Would a private bank lend all that money to you without any assets? Just some questions and comments I’m thinking. Plus he said that prices stayed relatively the same (assuming after inflation adjusted) from 1920s until the 1960 before government got involved. I calculated it and the inflated adjusted cost in 2021 dollars is 2289. In 1960 it was 11,646 before government got involved. So prices went up before the government got involved.
An excellent explanation of the impact of free education.
What a grifter. Leaving out endless information. Lets get summer jobs to pay for college!
im from the uk , its similar here, the thing he didnt mention was the entry qualifications that most universities require, (GCSE C and above, i want to study accounting and i dont have enough UCAS points to even get in)