{"id":63191,"date":"2014-07-08T09:00:31","date_gmt":"2014-07-08T14:00:31","guid":{"rendered":"http:\/\/thesocietypages.org\/socimages\/?p=63191"},"modified":"2014-07-29T03:12:55","modified_gmt":"2014-07-29T08:12:55","slug":"the-hidden-culprit-behind-rising-tuition-wall-street-skim","status":"publish","type":"post","link":"https:\/\/thesocietypages.org\/socimages\/2014\/07\/08\/the-hidden-culprit-behind-rising-tuition-wall-street-skim\/","title":{"rendered":"The Hidden Culprit Behind Rising Tuition: Wall Street"},"content":{"rendered":"

In the lasts 15 years, student debt has grown\u00a0by over 1,000% and the debt held by public colleges and universities has tripled. \u00a0Where is the money going?<\/p>\n

The scholars behind\u00a0a new report, Borrowing Against the Future: The Hidden Costs of Financing U.S. Higher Education<\/em><\/a>,\u00a0argue that profit is the culprit. \u00a0They write:<\/p>\n

Scholars have offered several explanations for these high costs including faculty salaries, administrative bloat, and the amenities arms race. These\u00a0explanations, however, all miss a crucial piece of the puzzle.<\/p><\/blockquote>\n

Sociologist Charlie Eaton and his colleagues crunched the numbers and found that spending on actual education has stagnated, while financial speculators have been taking an increasing amount of money off of the top.<\/p>\n

Higher education fills the pockets of investors in three ways:<\/p>\n