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| Hidden costs of higher education Posted by Fred Bartlett on 8/23, 7:39am | ||
| The Hidden Costs of Higher Ed By NOAH S. BERNSTEIN Published: August 21, 2011 NYTimes The crux of this latest whine is that schools have permitted some to make their tuition payments over time using credit cards/unsecured credit. These are folks who fall between the huge gap of being fully subsidized financial aid recipients and those who have planned ahead. Because unsecured credit is unsecured credit, a credit card fee is charged; a hefty 2 or 3% in some cases! Now, wait for it... this unfairly benefits the wealthy, who have either planned for their child's education by putting money away in advance, or who simply write out a check and pay for it. Because they can afford to not make their payments using a credit card... this policy benefits the wealthy, making it easier for them to afford college, relative to folks how make their payments using a credit card. Huh? The solution is simple enough: don't accept credit card payments. Instantly, no 'benefit' to the wealthy. No more 'hidden cost of higher education!' That was easy. Seriously. | ||
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