Interesting Rolling Stone article on college debt

[Pea-n-Me]

So, a question about community college and then transfer— what about scholarships?

My oldest is in her second year of college and has been indecisive about what she wants to do. I honestly had never thought of community college as an option for her. I was from the “if you’re smart you must go to a prestigious school” mindset, so having her go to a state school with a full tuition scholarship was our idea of being practical.

But with my younger two in middle school we have been thinking hard about their options. I think CC for a specific degree or trade is a good option and would be my preference for them. (DH’s nursing degree has been infinitely more valuable than my prestigious liberal arts education.)

However, if they do want to do something that requires a bachelors, I’m not sure that it would be cheaper to do two years and then transfer if they won’t qualify for scholarships. Wouldn’t that wind up costing more for the four years?

I think it probably depends on a lot of factors, i.e. where you live, grades, test scores, income, etc. But for many people who have "average" students and incomes that don't qualify for aid, it can be a good choice. That's why you have to do a lot of exploration with each particular student and situation. I do think community college takes some of the pressure off kids who aren't sure what they want to do, while still keeping them immersed in the school world. And of course for some, it may be the destination of choice when they have a good two year program for something the student is interested in that will yield them a decent income when they finish.

Yes, I have friends who have been enrolled in a loan forgiveness program for almost 5 years and were just notified that there was something wrong with the amount calculated for the one spouse (so they would have to start over) and that the other one didn’t actually qualify.

Similar situation with my BIL who has been out of school for 14 years but is somehow only two years into a 10 year loan forgiveness program.

That's rotten.

 

[Colleen27]

It’s been a rule in Missouri for at least 25 years that teachers must obtain their masters within 5 years IIRC.

I'm pretty sure that, or some variation of it, is in place in every state. Wasn't it a requirement mandated by one of the federal education reform bills, phrased in terms of wanting "highly qualified" teachers?

It’s just not that simple when it’s aimed at kids who are barely 18 years old. Not everyone has guidance to make good choices.

And even if they did... That solves the issue on an individual level, but leaves the societal problem unchanged. It is always "frivolous" (non-vocational) degrees that come up when someone is advocating this as a solution - gender studies or art history or underwater basketweaving - but that obscures the fact that real, essential professions also fall into the broad category of "majors that won't support you in life" or "won't pay enough to pay off your student loans". Do we really want a society where only those from wealthy enough families to pay cash for college can become teachers, or worse, where the return on investment is such that we simply cannot expect bright, motivated people to become teachers (or go into other low-paying professions) at all?

 

[Pea-n-Me]

And even if they did... That solves the issue on an individual level, but leaves the societal problem unchanged. It is always "frivolous" (non-vocational) degrees that come up when someone is advocating this as a solution - gender studies or art history or underwater basketweaving - but that obscures the fact that real, essential professions also fall into the broad category of "majors that won't support you in life" or "won't pay enough to pay off your student loans". Do we really want a society where only those from wealthy enough families to pay cash for college can become teachers, or worse, where the return on investment is such that we simply cannot expect bright, motivated people to become teachers (or go into other low-paying professions) at all?

I agree. But what about college costs themselves? Why has it become so ridiculously expensive to obtain a college education today? Especially in light of what was said here (in the article) as far as wealthy colleges sitting on hidden millions (separate from endowments, even) while at the same time dramatically raising tuition and paying some professors and administrators exorbitant salaries (and perks), with little oversight from or accountability to the public?

 

[Colleen27]

I agree. But what about college costs themselves? Why has it become so ridiculously expensive to obtain a college education today? Especially in light of what was said here (in the article) as far as wealthy colleges sitting on hidden millions (separate from endowments, even) while at the same time dramatically raising tuition and paying some professors and administrators exorbitant salaries (and perks), with little oversight from or accountability to the public?

Absolutely. Reforming the student loan industry is meaningless if nothing is done to contain costs - it may help some people, especially if the forgiveness programs are made more transparent, but it will most likely tighten the availability of funds and make it harder for lower-income kids to earn a degree as well because lenders will have to take a more realistic look at repayment ability. But I think that goes to the political slant of the writer/publication of that article; it is easier and more appealing to their readers to blame greedy bankers and deregulation-driven politicians than to level the same critical eye on institutions that are traditionally associated with a more "desirable" (from the writer's/reader's perspective) political and social worldview. And I think that's part of why nothing is really getting done to solve the problem - because on one side you have blind faith in higher education as a universal good, and on the other you have near-religious devotion to the idea that market forces will cure all ills. Neither side is willing to take a hard look at the parts of the system they like, and wants to lay all the blame on the parts they don't.

 

[mnrose]

This is not a college problem, this is a budgeting problem.

Ding. Ding. Ding. We have a winner. It's not just young people who don't spend appropriately. It's LOTS of people.

We have deliberately set about teaching our children money management skills. I think poor money management skills was a huge part of the crisis of 2008-2009, and I don't want to see my kids caught in that trap. It isn't taught in high schools anymore (at least in our area) and too many people take it for granted. Teach your kids. Give them a credit card BEFORE they graduate from high school and teach them how to use it, and more importantly, pay it off.

 

[Turn the Page]

Ding. Ding. Ding. We have a winner. It's not just young people who don't spend appropriately. It's LOTS of people.

We have deliberately set about teaching our children money management skills. I think poor money management skills was a huge part of the crisis of 2008-2009, and I don't want to see my kids caught in that trap. It isn't taught in high schools anymore (at least in our area) and too many people take it for granted. Teach your kids. Give them a credit card BEFORE they graduate from high school and teach them how to use it, and more importantly, pay it off.

Lack of money management skills is a big part of it but I think another big factor is that we have been told for decades that if you want a better life you need to go to college and get a bachelors degree. This has been drilled into our heads since we were very small. You have to go to college at all costs, no matter what. And that just isn't the case anymore.....or ever really. There are so many people that would be better served by a 2 year degree or trade school or something like that and that just isn't pushed as much as the prestigious 4 year university is.

 

[firefly_ris]

I went to community college for 2 years, transferred to a 4 year state university about 25 miles from home and commuted there. I was very fortunate in that my parents paid for my tuition so I do not carry any college debt. I did my best to keep the cost low for them. I wasn't the greatest student in high school so I didn't have scholarships. I stepped up my game in college and did much better. Looking back, I could have probably skipped college completely and still be doing what I do right now (web development) because I was self-taught and had already done side jobs and been portfolio building since high school, and as a freelancer no client asks me about my college education, they just want work samples and sometimes a good referral from a colleague.

I'm now 34 with 3 small children -- if they want to pursue college, fabulous, but I also won't be pushing them away from trade work if they want to do that. Our friends who are contractors, plumbers and elevator servicemen all outperform my husband and I salary-wise, and my husband is 38 and still carries some debt from 8 years of school (including a master's degree from a private university).... going back in time he'd do it differently, but on the bright side the loan is only about 1.4% interest rate so it's not too awful. But we know plenty of people with almost debilitating amounts of loan debt -- they make wayyyy more income than we do but after their monthly payments are no better off than us.

 

[mi*vida*loca]

I went to community college for 2 years, transferred to a 4 year state university about 25 miles from home and commuted there. I was very fortunate in that my parents paid for my tuition so I do not carry any college debt. I did my best to keep the cost low for them. I wasn't the greatest student in high school so I didn't have scholarships. I stepped up my game in college and did much better. Looking back, I could have probably skipped college completely and still be doing what I do right now (web development) because I was self-taught and had already done side jobs and been portfolio building since high school, and as a freelancer no client asks me about my college education, they just want work samples and sometimes a good referral from a colleague.

I'm now 34 with 3 small children -- if they want to pursue college, fabulous, but I also won't be pushing them away from trade work if they want to do that. Our friends who are contractors, plumbers and elevator servicemen all outperform my husband and I salary-wise, and my husband is 38 and still carries some debt from 8 years of school (including a master's degree from a private university).... going back in time he'd do it differently, but on the bright side the loan is only about 1.4% interest rate so it's not too awful. But we know plenty of people with almost debilitating amounts of loan debt -- they make wayyyy more income than we do but after their monthly payments are no better off than us.

I have also encouraged my son to go to trade school if he would like to. I don't think college is for everyone. I honestly don't care what my son does after high school as long as he has some kind of plan. I think my son would do great at contracting. He's not a sit at a desk kind of person. He's really good at working with his hands.

My cousin is 21. His parents don't believe in carrying debt at all so getting student loans was/is completely out of the question. They've also raised him this way so if he doesn't have the cash to pay for college he doesn't enroll. They let him live at home for free and he pays his own tuition and they cover books and all of his living expenses (car insurance, phone, etc). He got his associates last year at community college. He wants to go to Rutgers for his bachelors but he is against taking out a student loan. His plan was to try and work at the college to get free tuition. Well he applied for a security job at the college and got the job! Now he's going to college for free since he works there. All he has to do is pay for books and fees. I know that doesn't work for everyone but he made a plan, had to skip college for a year while he applied and did the rigorous interview/background check process, but he's going back for free. And he will graduate with no debt at all.

 

[adelaster]

I thought there were loan forgiveness programs for people who teach in certain locations?

PSLF is a paaaaaaiiin to the nth degree and under attack from the current administration. I have been fighting to stay in it for the last five years. By the time I qualify for forgiveness my debt will basically be paid. At this point I am not really expecting it. They have moved my loans several times, and with the interest rates (yes, even on federal borrowing) I have almost paid my original borrowed amount, yet am a decade away from freedom.

You see me on these boards because after working incessantly in my 20's I decided to actually live a little instead of waiting until the loans are gone to live at all. Totally get the depression and suicidal reactions- it is the most oppressive thing. Occupies most of my thoughts most of the time. It's hard not to think of it- I pay almost half of what I bring home monthly to these loans that never seem to budge.

Saving for a downpayment on a house, affording a child, graduate school, international travel- all of these things seem less feasible with the burden of student debt. I had medical debt too until recently.

Reading these boards sometimes makes me ball up my fists with how privileged so many of the children of the posters are, or how wealthy the posters are themselves. I honestly don't know how most people do it. I know a lot of people living paycheck to paycheck, tied down by their debt. I am at least at a point where I am able to save some- and feel incredibly blessed to have what I do.

 

[wenrob]

I have also encouraged my son to go to trade school if he would like to. I don't think college is for everyone. I honestly don't care what my son does after high school as long as he has some kind of plan. I think my son would do great at contracting. He's not a sit at a desk kind of person. He's really good at working with his hands.

My cousin is 21. His parents don't believe in carrying debt at all so getting student loans was/is completely out of the question. They've also raised him this way so if he doesn't have the cash to pay for college he doesn't enroll. They let him live at home for free and he pays his own tuition and they cover books and all of his living expenses (car insurance, phone, etc). He got his associates last year at community college. He wants to go to Rutgers for his bachelors but he is against taking out a student loan. His plan was to try and work at the college to get free tuition. Well he applied for a security job at the college and got the job! Now he's going to college for free since he works there. All he has to do is pay for books and fees. I know that doesn't work for everyone but he made a plan, had to skip college for a year while he applied and did the rigorous interview/background check process, but he's going back for free. And he will graduate with no debt at all.

That is an awesome story about your cousin.

I do not think DS will go to college. He’s only 12 so that may be an early call yet but the kid announces at the beginning of every school year how many years he is legally obligated to go. Many of our high schools have trade school like programs (older DD went to one) that have these kids working steady, we’ll paid jobs right of high school. My hope is to get him into one. I think he needs something under his belt to get a good start in life but I don’t think that necessarily means a college degree.

 

[mi*vida*loca]

That is an awesome story about your cousin.

I do not think DS will go to college. He’s only 12 so that may be an early call yet but the kid announces at the beginning of every school year how many years he is legally obligated to go. Many of our high schools have trade school like programs (older DD went to one) that have these kids working steady, we’ll paid jobs right of high school. My hope is to get him into one. I think he needs something under his belt to get a good start in life but I don’t think that necessarily means a college degree.

He really is an awesome kid. When he graduated with his associates I asked him if he was transferring to a 4 year school and he said "not yet. I don't have the money." It took me a minute to process it because most people would say "yea once the loans go through." lol But getting a student loan isn't even on his radar. He would rather have no bachelors than have student loan debt. He wants to be a NJ state trooper which requires a bachelors. The plus is now he's working in the field by being a security guard at the college.

I never thought college was for my son but starting in September it's like something clicked and he wants to go to college. It completely threw me for a loop. I was for sure thinking he would do trade school or the military. He insisted on us going to the college meetings and FAFSA meetings. He's all over it now. He wants to do Rutgers but he wasn't always the best student (although since it all clicked this year he's been trying much harder) so I don't know if he'll be accepted but he wants to try. If not he will go to the CC that offers the 3+1 program. If that doesn't work out there is always trade schools but I've told him he can't just do nothing. He has to be working towards something.

 

[Boardwalk Jedi]

Unfortunately, this article lays it out so well and it's SO sad. I'm just not even sure what to say. College educations used to be only for the rich. Between grants and loans, the middle class and poor were able to access college in hopes of making a better life. Sad to say, taking out student loans has become nothing more than going to a loan shark. People need to be VERY careful financing education. If so, carefully pick a major. Some of these jobs (such as teaching) don't ever give the student the ability to pay the loan back AND live.

We actually went through a time when college was affordable (think California and Texas in the 70s). It's called the state school system which unfortunately conservatives wrote off as needless welfare. Many students actually pursued education just for the sake of being educated. Now banks have become loan sharks as you pointed out and what's worse, the education department has rolled back many protections for student borrowers.

 

[CinderDuffy]

Yes, I have friends who have been enrolled in a loan forgiveness program for almost 5 years and were just notified that there was something wrong with the amount calculated for the one spouse (so they would have to start over) and that the other one didn’t actually qualify.

Similar situation with my BIL who has been out of school for 14 years but is somehow only two years into a 10 year loan forgiveness program.

Is the 10 year forgiveness program PSLF? If so, the only payments that qualify are those made under an income-based repayment plan while working at a qualifying institution.

Any payments made under the standard repayment plan do not count. Any payments made during employment at a non-qualifying institution do not count.

I work in financial aid & I have never heard of an official loan forgiveness program that tells people they have to "start over" due to incorrect calculations.

 

[NotUrsula]

I agree. But what about college costs themselves? Why has it become so ridiculously expensive to obtain a college education today? Especially in light of what was said here (in the article) as far as wealthy colleges sitting on hidden millions (separate from endowments, even) while at the same time dramatically raising tuition and paying some professors and administrators exorbitant salaries (and perks), with little oversight from or accountability to the public?

The Chronicle of Higher Education (www.chronicle.com) is the weekly newspaper of the profession of academe in the US (some of their articles are free, but many are pay-walled, so if you have access to a subscription via a local library, you should use that method to get to the restricted content. However, most of their statistical content is open-access.) The Chronicle does a nice job of breaking down where the money tends to go, and relatively little goes to teaching faculty. Most of what is paid in salaries goes to administrators, and at the very wealthy private schools, it isn't unheard of for the Director of Development to make as much or more than the President of the University. At schools with major sports programs, the men's football and basketball athletic staffs usually make more than the entire rest of the teaching faculty put together. Which is to say, the people who bring money in (in the form of grants and donations) also tend to rake it in personally. Medical schools are very prestigious, but also very expensive to run, because hospitals generate major costs in salaries, facilities, and risk-management costs. Some STEM faculty who are very good at parlaying research into patents will also be generously compensated; that tends to be standard because the patents are signed over to the school, though they may or many not generate income for it.

I've been in the academy for a very long time, and my job involves one of the most expensive aspects of maintaining accreditation: the library journal collections. Most laymen and even most professors have no clue what we have to pay for those. (And the price keeps getting higher; it has increased over 2000% since I started in this field in the early '80's. The average chemistry journal now costs a university at least $4K/yr. A university with a medical school normally has to spend upward of $3M/yr for journal access. FWIW, scientific output has been doubling every three years for the past two decades, which means more journals to buy as new fields develop; and of course, the equipment those fields require. Take mass spectrometry: it's been around since the 1920's, but it's full potential didn't become apparent until the 1980's. Since then it has become ubiquitous technology in almost every STEM field, and every STEM student learns the basics now. Hugely expensive machinery, and the number of journals that focus exclusively on research in the field has exploded. In the early 80's there were two journals dedicated to it, at last count this year there were over 3000 titles. Even if we only buy the top 10 of them that is still a major investment that didn't exist when I was a student.)

Still, the cost for undergraduate tuition is climbing faster than costs to provide it are, and the debt situation is beyond ridiculous. The Pell Grant program has been gutted, and most students who would have qualified for Pells thirty years ago now have to get that money from loan sources. One rule that I would like to see put into place is that no Federally-backed loans or grants should be given for attendance at for-profit schools, and that no Federally-backed loans should be given to students enrolled at private schools unless the schools agree to match those loans with in-kind discounts to the student. (If you want to diversify the socio-economic status of your student body, those low-income students shouldn't be the ones paying interest for that goal.)

 

[Mrs. Ciz]

Hmm I’m not quite sure where you’re getting these figures from? I have hefty student loan debt and I am the sole signer on all of my loans. “Where are the parents?” Well I’m a first generation college student and my parents simply had no way of advising me or knowledge to impart about choosing an affordable option. They just didn’t know. I went into the whole situation blindly, as I imagine many students do. For a smart student, I could not fathom how taking out $75k in education debt would impact me. (As ridiculous as that sounds...) All I thought was “well my parents can pay $0 and I have to go to a private liberal arts college, so loans are my only option” beyond needs based grants. I am fortunate enough to make a high enough salary that my loans aren’t a hardship, but I know that’s rare.



I think it entirely depends on where in the country they teach. A friend’s starting teaching salary here in the northeast was over $60k.

I quoted the standard Federal Student Loan limits for dependent undergraduate students. Loan limits are higher for independent undergraduate students, dependent undergrad students whose parents are denied for Parent Plus Loans (denied as in declined, not just because the parents won't take out the loans) and graduate students.

 

[Turn the Page]

The Chronicle does a nice job of breaking down where the money tends to go, and relatively little goes to teaching faculty.

Yep. One of my summer coworkers teaches as an adjunct at a small, private, liberal arts college downstate in the wintertime. Students pay $45,000 a year or so to study there. She teaches 3 sections of a course, teaches 3 days a week, and is paid $1400 a month for it.

One of my graduate professors, who was the department chair, was a total anti capitalist which was ok until she started talking about how she pays adjuncts the same amount now as she made working as an adjunct in the 90's and why would she pay adjuncts more than that? There are tons of them out there willing to work for that so she won't pay more. More and more courses are being taught by adjuncts making poverty level wages rather than tenure track professors. Those positions are becoming rarer and rarer.

 

[bjscheel]

So, a question about community college and then transfer— what about scholarships?

It definitely depends on where you transfer to! My nephew is finishing his associate's degree now at a cc. He is transferring to a small state school where in-state tuition is just under $9000/year. He qualified for in-state rates due to GPA (3.5). Then he got an automatic merit award of $2500/year and the Phi Theta Kappa award of $3500/year. (PTK is an honor society that you must attend cc to join.) So $6000 in scholarships as a transfer. In comparison, their top automatic merit is $4000 for a freshman. I will say I've looked at other schools and haven't found a PTK scholarship that generous anywhere else. He lived at home for cc and will live in an affordable apartment down there so he's really doing well on costs.

We aren't in a comfortable driving distance of any school. There is a cc 35 miles away but it's not the best and I didn't want my girls driving all winter either. DD19 is at a cc an hour away and it's good for her to live there and have that experience. She got a decent amount of local and school foundation scholarships so she is just paying her rent/groceries with a part-time job. Her program will be complete with 5 semesters, it is not one where you finish at another school. I will pay any tuition that the scholarships don't cover and the tax credit will make most of that a wash, so one kid is figured out.

My DD16 is one of those who gets stars in her eyes over certain schools she visits or hears about. And she is probably going to get salutatorian so she thinks she needs to meet expectations. (My DD19 did get some flak from teachers and acquaintances for attending JUST community college. The bias is definitely out there. But she is pleased with herself for a plan that will leave her debt-free and with a chunk remaining in savings.) I am feeling somewhat relieved that I have found a few small state schools she is not opposed to, around $15,000/year total after automatic merit but honestly that's still a lot for us. My hope is that she will get a 29 on her ACT which will get her free tuition at one of them, that they will have a major she wants, and that she likes it so she doesn't feel forced to go there.

Anybody familiar with Alabama State University? I read on College Confidential that you can get a full ride (inc. housing) with a 26 ACT which is not all that high for a full ride. I am not keen on sending DD that far away from home (and she hates that their mascot is a hornet, LOL). Is it a good school though?

 

[disykat]

I get that college is expensive, prohibitively expensive for many, but what I don't get is all the people who claim ignorance of what a loan means. I have to pay it back? With interest? I didn't know! I was just a kid! IMO, that excuse is so over.

There are so many more affordable choices and ways to minimize the amount of loans needed. Some student loans coming out of college aren't the end of the world. For many people that route makes some sense. The problem is when you come out with over 100K knowing that you are a liberal arts major, job prospects aren't high paying, and you totally overlooked much more feasible financial options and want sympathy.

My kids were lucky in that we'd bought into a prepaid tuition plan program for them and had plans in place to help them with housing. (We bought a house with less value than we could "afford" and paid it off early, freeing up our mortgage budget for their living expenses.) They worked too and so they came out debt free. Yes, they were lucky, but we were also smart about it and so were they. We told them upfront what the money situation was and they had to make their choices accordingly. Living within your means applies to college too. Some of us have more means, but there are also options for those who don't.

 

[Mel522]

Is the 10 year forgiveness program PSLF? If so, the only payments that qualify are those made under an income-based repayment plan while working at a qualifying institution.

Any payments made under the standard repayment plan do not count. Any payments made during employment at a non-qualifying institution do not count.

I work in financial aid & I have never heard of an official loan forgiveness program that tells people they have to "start over" due to incorrect calculations.

The bolded is incorrect. Payments made on standard repayment plans do count, but the borrower must enter into an income driven repayment play to recieve PSLF. If they were to remain in a standard repayment plan their loan would be paid off in 10 years so there would be nothing to forgive. Quanifying payments must be for the full amount due for the month and must be on time (there is a 15 day grace period for late payments). You cannot be paid ahead, because you wont technically have anything due the next month.

 

[Pea-n-Me]

The Chronicle of Higher Education (www.chronicle.com) is the weekly newspaper of the profession of academe in the US (some of their articles are free, but many are pay-walled, so if you have access to a subscription via a local library, you should use that method to get to the restricted content. However, most of their statistical content is open-access.) The Chronicle does a nice job of breaking down where the money tends to go, and relatively little goes to teaching faculty. Most of what is paid in salaries goes to administrators, and at the very wealthy private schools, it isn't unheard of for the Director of Development to make as much or more than the President of the University. At schools with major sports programs, the men's football and basketball athletic staffs usually make more than the entire rest of the teaching faculty put together. Which is to say, the people who bring money in (in the form of grants and donations) also tend to rake it in personally. Medical schools are very prestigious, but also very expensive to run, because hospitals generate major costs in salaries, facilities, and risk-management costs. Some STEM faculty who are very good at parlaying research into patents will also be generously compensated; that tends to be standard because the patents are signed over to the school, though they may or many not generate income for it.

I've been in the academy for a very long time, and my job involves one of the most expensive aspects of maintaining accreditation: the library journal collections. Most laymen and even most professors have no clue what we have to pay for those. (And the price keeps getting higher; it has increased over 2000% since I started in this field in the early '80's. The average chemistry journal now costs a university at least $4K/yr. A university with a medical school normally has to spend upward of $3M/yr for journal access. FWIW, scientific output has been doubling every three years for the past two decades, which means more journals to buy as new fields develop; and of course, the equipment those fields require. Take mass spectrometry: it's been around since the 1920's, but it's full potential didn't become apparent until the 1980's. Since then it has become ubiquitous technology in almost every STEM field, and every STEM student learns the basics now. Hugely expensive machinery, and the number of journals that focus exclusively on research in the field has exploded. In the early 80's there were two journals dedicated to it, at last count this year there were over 3000 titles. Even if we only buy the top 10 of them that is still a major investment that didn't exist when I was a student.)

Still, the cost for undergraduate tuition is climbing faster than costs to provide it are, and the debt situation is beyond ridiculous. The Pell Grant program has been gutted, and most students who would have qualified for Pells thirty years ago now have to get that money from loan sources. One rule that I would like to see put into place is that no Federally-backed loans or grants should be given for attendance at for-profit schools, and that no Federally-backed loans should be given to students enrolled at private schools unless the schools agree to match those loans with in-kind discounts to the student. (If you want to diversify the socio-economic status of your student body, those low-income students shouldn't be the ones paying interest for that goal.)

Thanks. I know there are a lot of costs that few undestand or think about, so I appreciate the information. When I said "some" professors I was thinking about one of our own local college professors (who is now a U.S. Senator from MA) making $350,000 for teaching one class at Harvard, and those like her, their salaries only becoming disclosed when they have to be. (Not going to post links here but one can easily find these professors/politicians with a Google search.) I certainly do not mean to disparage what is probably the majority of hardworking college professors making reasonable salaries. As I posted in the "Paying for graduate school" thread, there seems to be little transparency into how private colleges are spending their money - and in our case, even some of the public ones.