According to professor William Maloney, a vast right-wing conspiracy wants to “starve the beast” of higher education. Beast is certainly an apt metaphor.
Here is how it works. The Federal Reserve conjures money from the ethers, loans it to the government, which loans it to students, who give it to universities, which pay people like Maloney. These loans now exceed $1 trillion.
This money mechanism underpins the health-care industry as well. If you want to make a service sector more expensive and scarcer for the poor, feed it money. If you want to make something really expensive, feel the Bern and make it free. Professors should talk to doctors for a glimpse of their futures.
Maloney believes a higher education diet will induce universities to raise tuitions, encourage more student loans, admit more full-pay students from outside Kentucky and lower admission standards to capture dumber, richer students.
The other option, trimming fat, eludes him.
A construction engineer should be familiar with a house of cards, which is what higher education has been constructing for decades. Student loan debt is cruelly preventing young people from forming families and buying real houses. They write loans for that, too.
Cameron S. Schaeffer