<p>I don’t think they are talking about parents paying based on children’s potential earnings. I think they are saying that compared to years ago, taking on student loans to go to school can be paid back much quicker and easier because the earning of a college graduate are a higher percentage of loans taken out compared to years ago. I.e. (Making up numbers here: Loans for 4 years of college was equal to 3 years of income 20 years ago. Today, loans for 4 years of college is equal to 1.5 years of income). Again, making up numbers.</p>
<p>Also, IMHO; college costs are relative. Many states are quite inexpensive for in state residents. I know of quite a few states where the full costs for an in state resident is approximately $12,000-$15,000 a year. That includes dorm, food, tuition, books, etc… At most, that is $60,000 which is manageable with loans. What more, most states have some very good scholarship programs. New Mexico for instance uses their lottery income to subsidies scholarships. Many other states have scholarships for ALL students that have certain grade point averages. It’s stepped. So, a $15,000 cost for the average student, could actually be as low as $6000 for attending. This doesn’t account for any and all other scholarships and such. $6000 a year is $24,000 after 4 years. That’s the cost people pay for a car. That is very reasonable to take a loan out for and pay back after graduation and getting job.</p>
<p>Getting into college and affording it; IMHO; is easier and cheaper than it was 20-30 years ago. Now, if a kid is hell bent on going to yale, Harvard, Princeton, etc… and can’t afford it, then I’m sorry. No one owes you a college education. Not even your parents. It’s all about supply and demand. If no one applies to harvard because they can’t afford it, then Harvard will reduce their prices. As long as they have people willing to pay it, they will charge it. But that isn’t what matters. When it comes to “STATE” universities/colleges, they aren’t that expensive. Even if you didn’t get any scholarships and had to take a loan out for all 4 years, it’s not that expensive compared to what you will gain financially for attending. I believe that the problem is the “Entitlement” mentality. Too many people think that the government owes them a college education and that somehow they shouldn’t be expected to pay $60,000 for a college education. Then again, that is part of the “Redistribution of Wealth” mentality. There are a lot of people who support the social/welfare type of economy where the government supports them. </p>
<p>It took me 10 years to get an associate’s degree; another 5 years for my bachelor’s; and another 2 years for my 3rd degree. It has helped me advance, and I didn’t use any tax dollars to do it. Many companies you work for even pay for a large portion of continued education. Nothing says you have to go to college immediately after high school. Even Mini-Mart has a program where they will pay for their employees to go to college. Sorry, we don’t need more government subsidies.</p>