Becker Private Equity & Business Podcast
College Debt vs. College Costs 2-28-25
Fri, 28 Feb
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In this episode , Scott Becker argues that college debt is just a symptom of a much larger issue—runaway college costs.
Chapter 1: What is the main topic of this episode?
This is Scott Becker with the Becker Private Equity and Business Podcast. Today's discussion is college debt versus college cost. And this, I think, is a fascinating discussion. Many people talk about college debt as though this is the core of the problem for college students coming out.
Chapter 2: Why is college debt considered a symptom?
And of course, it is a very big problem and a very real problem if somebody ends up with more debt than they're going to pay back reasonably over the course of their career and what they do. We're also a believer that debt essentially kills, we say it often, companies, countries and families.
Chapter 3: What are the implications of college debt?
And so when these Doge people talk about a Doge Dividend, we think that's the most moronic thing we've ever heard. But that's not the point of this podcast today, because I think that Doge Dividend, whatever savings we get, should be used to pay down debt and reduce our deficits. But the real point today is, college debt is really a symptom of a larger problem of horrendous college inflation.
Chapter 4: How have college costs escalated?
What's happening across the board is colleges go on mass building sprees, build up huge institutions, they have huge staffs and huge pensions. College costs have become out of control. To go to a great state school, if you're in state today, could cost you $30,000 to $50,000. To go to an out-of-state institution or a private institution can cost you $50,000 to $100,000 a year.
And those numbers are just absolutely awful compared to the value or what the incomes are going to be of people. So the real root of the problem is not college debt.
And one of the things I hate is when politicians point to college debt as the problem, while ignoring the fact that college costs and college staff and college pensions and teacher salaries have gone through the roof at college institutions. And professors are often working very part-time and making great livings.
And what happens politically is people are afraid to take those, because those are voters, and so they don't want to say what the real problem is, that college costs have gone through the roof. So instead, they talk about the symptom, which is college debt. And again, college debt is a real problem, but it's caused directly by the fact that college costs
Pensionkost, Salarykost, Buildingkost, Opernkost have gone out of control. Somebody's got to come up with a better way to do college education and keep it elite. And it doesn't seem like it's that hard to do, but most people don't have the discipline to do it. Thank you for listening to the Becker Private Equity and Business Podcast. Again, we hope you have a great day and a great weekend.
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