1-28-14 – The Kampus Krusaders

by Chris Campion


Vermont’s Trifecta of Fabulous, the aging and somewhat lucid political leadership of the 14th Republic, recently congratulated themselves on securing more funds for VSAC, the Vermont Student Assistance Corporation. In other words, education is an industry that is too big to fail, and these three rough ‘n tumble hombres are just the fellers to make sure overpriced student loans are available for immediate encumbrance upon unsuspecting Vermonters’ lives.  But let’s let them tell the good news, shall we?

“Leahy, the most senior member of the Senate Appropriations Committee, which handled the Senate’s negotiations, led the effort in the work on the bill, on behalf of VSAC, with strong support from Sanders and Welch. Leahy said: “No student should be denied the opportunities of a college education

College.  It's a bitch.

College. It’s a bitch.

because of her or his family’s financial resources.””  

No student should be denied the opportunities of a college education because the price of a college education has skyrocketed for decades, dwarfing the CPI rate of inflation – a college degree is roughly 500% higher now than in 1982.  Why?  Because the federal and state governments have ensured that by making student loans available (at rates that are multiples of the average mortgage rate), colleges will continue to endlessly spend money on programs of dubious utility to the average college student, and soon-to-be unemployed college graduate. Those dorms with hi-def screens on the walls in every room, dorms with pools and hot tubs, upscale cafeterias, resort-level gyms and spas, well, it turns out that someone’s going to pay for those. It will be the students, taking out loans, that will fund the majority of those capital projects, new division chairs, new programs with Majors Of Dubious Value, and the campus President’s tasty salary.

Kickoff's at 6:00!

Oh, and what goes unmentioned by our tripping-over-themselves-to-congratulate-themselves “leaders”:  Be careful what major you bring to the labor market.

Also, no American should be denied a Senate that passes a budget, but we got that from Leahy and Sanders.  I await their apology.

Continued – unendingly – from above:

“Nonprofit loan servicers like VSAC serve as instrumental partners in guiding Vermont students through the complexities of financing their college educations.”

It’s more complicated because funding mechanisms like VSAC exist. The state could block-grant the VSAC dollars directly to the colleges to reduct their costs, but perhaps our
Federal Triumvirate knows that giving additional dollars to colleges is dangerous. You don’t feed the insatiable more of what they love so dearly – unrestricted funds.  Why is there no call to nationalize education so as to control costs?  Isn’t that how things get fixed now?  Nationalize an industry and the costs will magically go down?

“I continue to hear from students and adult learners across our state that VSAC’s outreach counselors gave them the support system they needed to graduate.”

The only time I ever needed VSAC was when I was dropping off a student loan payment at 8% interest. A better support system would have been an aggregate tax reduction equal to the amount of money VSAC was spending so I could better afford to live in Vermont, and businesses might decide to site or expand here.  Oh, and I continue to hear from the recently-graduated how much their student loan payments makes it impossible to live in Vermont.  So they leave for places that actually have jobs.

“I am delighted we were able to make sure that the new spending bill will enable VSAC to continue to serve students in need.”

Our congressional delegation continues to be delighted in spending our money and money borrowed from investors in Treasury bills. Funny, they’re securing funding for a service that is only going to decrease in demand as Vermont’s demographics continue their steep decline, in terms of birth rate and the aging demographic. Worse, because so few are participating in Vermont’s labor force, and our unemployment rate is low as a result, there will be fewer and fewer jobs waiting for college grads once they do graduate, and start looking forward to re-paying the “support system” they needed to graduate.

No, but being a politician almost always guarantees a paycheck.

Instead of our delegation’s solution, I offer an alternative to aspiring Vermont collegians.  There’s a cheaper path to a degree:  Get a job at a college.  Any job.  Mop a floor.  Then go to school for free. Get a degree. Get two. Then leave.

It’s that simple. And you don’t need the Three Unwise Men from DC to help you get there, either, which would probably make another, more ancient Vermonter named Cal very happy, too.

Reprinted with author’s permission from dangerwaffles.wordpress.com.

{ 1 comment… read it below or add one }

Armand Dion January 31, 2014 at 3:10 pm

Spot on article. Too bad a majority of Vermont tax payers do not read this. We are in a death spiral and our national reps are part of the problem and not part of the solution. Funny how they demagogue large private corporations , especially big oil companies.
Too bad . Very discouraging living in this state and region. We just keep losing our freedoms to the politicians , both locally and nationally.


Leave a Comment

Previous post:

Next post:

About Us

The Ethan Allen Institute is Vermont’s free-market public policy research and education organization. Founded in 1993, we are one of fifty-plus similar but independent state-level, public policy organizations around the country which exchange ideas and information through the State Policy Network.

Latest News

VT Left Wing Media Bias Unmasks Itself

July 24, 2020 By Rob Roper Dave Gram was a long time reporter for the Associated Press, is currently the host of what’s billed on WDEV as a...

Using Guns for Self Defense – 3 Recent Examples

July 24, 2020 By John McClaughry  The Heritage Foundation’s Daily Signal last week published eleven news stories about citizens using a firearm to stop a crime. Here are...

FERC ruling on solar subsidies could help Vermont ratepayers

July 21, 2020 By John McClaughry Last Thursday, the Federal Energy Regulatory Commission finalized its updates to the Public Utility Regulatory Policies Act (PURPA), in what the majority...

The Moderate Left’s Stand for Free Speech

July 17, 2020 By David Flemming Harper’s Magazine, a long-running monthly magazine of literature, politics, culture, finance, and the arts, is hardly what you would call a ‘politically...

Trump’s Regulatory Bill of Rights

July 16, 2020 by John McClaughry “President Trump [last May] issued an executive order entitled  ‘Regulatory Relief to Support Economic Recovery.’ The executive order includes a regulatory bill...