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.
|Average Loan Fees||$82||$82||$82||$82||$82|
|Books & Supplies||$1,200||$1,200||$1,200||$1,200||$1,200|
2015/2016 Montana State University Undergraduate Cost of Attendance
Undergraduate Resident Students
Undergraduate Non-Resident Students
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!!!