College Free for All!!

Back in the day when I was a college undergraduate a person could matriculate at an excellent in-state universty throughout most of these United States and pay annual tuition and fees of between a thousand and two thousand dollars a year. In well-managed states like Texas the tuition package was only a few hundred dollars per year. 

Most public university students could earn their tuition and then some by working a summer job. By continuing to work part time during the school year, with a modicum of help from parents or other relatives, many students managed to graduate entirely debt free. In-state students who did borrow had post graduation monthly re-payment schedules that were on the order of a car note or Con Ed bills -- not the condo or house size repayment burdens that many students carry today. Fueled largely by the free and easy availability of debt, the costs of attending college have skyrocketed over the years, much more so in some places than others. 

Bernie Sanders' response to this chain of events is to declare college should be free for all. 

Well, let's see how Bernie and his bleeding heart socialist pals from Vermont actually perform on controlling college costs, compared to, let's say, a collection of rugged individualists here in Montana.

According to the university's website, the typical on campus state resident at the University of Vermont has an annual budget of $31,000. That is 4.4 percent percent higher than last year when Bernie Sanders announced his candidacy for President, a timeframe when consumer prices in general have actually declined. Way to go Bernie and friends in Vermont!

2015-2016 Undergraduate Student Financial Aid Budgets

For students enrolled in 12-18 credits per semester.

	Vermont Resident, On Campus	Vermont Resident, Off Campus	Vermont Resident, At Home	Out-of-State Resident, On Campus	Out-of-State Resident, Off Campus
Tuition	$14,664	$14,664	$14,664	$37,056	$37,056
Student Fees	$2,104**	$2,074	$2,074	$2,104**	$2,074
Average Loan Fees	$82	$82	$82	$82	$82
Books & Supplies	$1,200	$1,200	$1,200	$1,200	$1,200
Room*	$7,376	$7,400	$2,500	$7,376	$7,400
Meals*	$3,774	$2,500	$830	$3,774	$2,500
Transportation	$200	$646	$2,358	$672	$1,118
Miscellaneous	$1,600	$1,600	$1,906	$1,600	$1,600
Total	$31,000	$30,166	$25,614	$53,864	$53,030

Compare the Vermont costs to the costs of attending Montana State University here in Bozeman (University of Montana and Montana Tech costs are similar). 

Estimated Expenses

2015/2016 Montana State University Undergraduate Cost of Attendance

Undergraduate Resident Students

Category	Semester	Academic Year
Tuition/Fees1	$3,425	$6,850
Room/Board2	$4,325	$8,650
Books/Supplies3	$625	$1,250
Personal/Transportation4
Total	$8,375	$16,750

Undergraduate Non-Resident Students

Category	Semester	Academic Year
Tuition/Fees1	$11,085	$22,170
Room/Board2	$4,325	$8,650
Books/Supplies3	$625	$1,250
Personal/Transportation4
Total	$16,035	$32,070

Note that the non-resident costs at MSU are virtually the same as the in-state resident costs at the University of Vermont. Seeing as the skiing out here is so much better and affordable, it's no wonder you can't walk or drive through MSU's campus without noticing a surprising large number of Vermont license plates. I can imagine the dinner table conversation, "Mom, dad, let me go to Montana it won't cost hardly a penny more." FYI, Montana State makes a small profit on out-of-state tuition.

Given MSU's total annual costs of approximately $17,000 (I added an allowance to the MSU total for transportation/miscellaneous to make the two schools' totals comparable) the in-state cost of attending college in Montana is only slightly more than half the in-state cost of attending the University of Vermont. Over four years the cost premium of Vermont-style socialism adds up to between $55,000 and $60,000 per student.

Bernie papers over the causes of skyrocketing tuition by declaring college education free and proposing to tax financial trades (a tax that won't happen when people wake up and realize it is a tax on their savings plans, annuities, and retirement accounts).   

Should Bernie succeed in making college free we will be able to repurpose money I have earmarked for my three children's college education to join a country club, take a couple of cruises each year, and finance winter stays in Arizona. Sweet! Thanks!

Feel the Bern. Get stuff free. Vote Democrat. Elect Bernie!!!