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11/03/2011

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CHilke

Via News of the Weird:

"Student Loans' Perfect Storm: Like clockwork, college campuses continue to be recession-free zones: Tuition rises (at public schools because governments need revenue; at private schools because it can). Job prospects without degrees are more dismal than ever. Loans are floated like cocaine in front of worried, not-fully-formed adults. Proprietary schools convince marginal students they'll be superstars. Banks rake in low-risk money. But, Newsflash: Young adults can't pay it back right now. Banks: Great! More money for us in interest! (Newsflash: Maybe they can't ever pay it back. Banks: Wait . . what?) But . . why does tuition rise so faithfully? Here's one example: The University of California Berkeley has a new "vice chancellor for equity and inclusion," base salary, $194,000 (equal to 3½ new assistant professors), with his own "chief of staff" and 16 underlings. KausFiles via Daily Caller"

http://www.weirduniverse.net/blog/comments/5482/

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