Political Quotes

“paying for college is harder than it used to be. Over the last 5 years, the combined cost of tuition, fees, room and board at 4-year public colleges and universities increased by 42 percent, and more students are leaving college saddled with debt. More than two-thirds of 4-year college students now borrow to pay for school, and their average debt more than doubled between 1993 and 2004. Unfortunately, we have learned that some lenders and some universities are engaging in practices that are not always based on what is in the best interests of the students. The New York Times revealed that some lenders have offered schools incentives to be placed on a college's ``preferred lender'' list. One example was an all-expense paid trip to the Caribbean for school officials and their spouses to attend an education ``summit'' held at a luxury five-star beachfront resort. Between symposiums and discussions on how important it is to address the cost of higher education, guests could enjoy complimentary water and beach sports, volleyball, and access to an 18-hole championship golf course, a 10-court tennis complex, two beachfront pools, and a luxury spa. News of the trip drew such a negative response that the sponsor of the trip, Loan to Learn, ultimately cancelled it. Other examples of incentives to schools include iPods given away at a financial aid administrators meeting and bonuses based on how much students borrow.”