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I'm just curious, before federal loans, were private lenders willing to fund anybody, or only degrees they found lucrative? Or was the tuition so low it didn't
by JimboOmega 8y ago
I'm just curious, before federal loans, were private lenders willing to fund anybody, or only degrees they found lucrative?
Or was the tuition so low it didn't matter? (E.g., somebody who gets a psychology degree and winds up making $40k/year doing data entry still can afford to pay the relatively small amount)?
- jki275 8y agoI don't remember the exact numbers, but tuition in the 90s was very low in comparison. Here's a link that shows 2-3x increase in adjusted dollars: https://www.cnbc.com/2017/11/29/how-much-college-tuition-has-increased-from-1988-to-2018.html https://www.cnbc.com/2017/11/29/how-much-college-tuition-has...
- derekp7 8y agoFrom what I recall, parents had to save for their kids college, and if you didn't have a college savings fund then you worked your butt off in high school in order to qualify for scholarships. And you worked a side job to pay your way through college. And a lot of people didn't go to college, because a lot of people could get really good (decent paying) jobs without it.
- squirrelicus 8y agoBefore federal student loans it was possible to attend University on a part time wage. It was hell, like it always is when trying to improve your socio economic status. But possible, unlike today.