I live in Florida where our college students have experience crippling state legislature. Bright Futures Scholarships based on academic achievement once awarded those diligent students 75% or 100% of state tuition. No longer. Not only has the percentage of tuition dropped dismally, but incredibly once a student has completed 120 credit hours, that Florida resident student must now pay 'Out of State' fees to a state university. At UCF that equates to $700 for a 3 credit hour class! A vast majority of students change their majors and subsequently go over the 120 credit hours to attain their majors.
Wait...I thought this was a bilateral agreement between state and student. Oh..what? oh..it's Governor Rick Scott...he can do what he wants. Oh Gee..Really? But..those ads..Governor Scott has done such great things for education...Oh wait..what? ..Truth in Advertising=Dichotomy .
Tuition has gone up more than ever, in large part to our state legislature taking millions of dollars from the reserves of our state universities.
Stafford loans, now at 3.6% will in all likelihood increase in July. Amazing that interest rates are so very low, but once again the burden of the financial irresponsibility and greed by adults...not students...is being placed on our students backs.
How absolutely reprehensible.
Ingrid Grattidge of FL11:21AM June 12, 2012
Mark Cuban makes some good points. Yet, the irony of this post is we rank, and this website does too, on prestige and notoriety. Instead of ranking institutions based on this flawed system, schools should be ranked based off more number driven data.
Businesses should be investing in students. Unfortunately, a system has been built which favor employers, not employes. School is a necessity, more than ever, and businesses should see it as an asset.
States and the federal government are to blame, not because of the loans they offer, but because they do not pressure institutions to fix the systemic cancer called-student debt. Their should be tuition caps, private loan should be easier to get, and more importantly institutions should be giving out more scholarships and work study. With these huge endowments they should have to feel the pain abit- if only to ease the long term macro effects. Its like a shot, now or latter, and institutions should see that it needs to be now.
Mark Cuan makes good points, but students are not going to make decisions on going to smaller, cheaper, and generally less affluent schools. The burden should fall on administrations, not the students to fix.
Justin Hinckleyof TX4:19AM May 22, 2012
strayer!
aarionaof GA10:56AM May 18, 2012
Mark Cuban is absolutely right. I worked for University of Houston- a self acclaimed Tier One University up till 2011. the waste in the system, if investigated and fixed will drop the tuition by at least 25%. Yes I mean it.
It is so bad that their EHS Department even had PhD's grading quizzes by hand. The Director was not ashamed to say this an he has been there for 10 years. Every year, they get tax payers money and fund positions with highly qualified individuals making a lot of money but doing the job of administrators- pushing papers, and it is so unfortunate the bill is picked up by tax payers as well as the students and the government. People working there are afraid to speck up for fear of their job. they see the waste, some are even bold to make recommendations but the people at the top will suppress it and the person has no choice but to shut up or get fired.
I hope CNN, FOX or some credible media will take up this investigation to expose the waste in academia. Start with UH and you will uncover a lot.
Michaelof HI10:35AM May 18, 2012
I agree with you Mark Cuban. Please send this to all our politicians and University presidents.
Pissed off studentof TX7:50PM May 16, 2012
Hi Mark....you're dead on right buddy! My son David has been voicing similar sentiments to me during the past 3 months or so! Thanks for continually telling it like it is !....PS I thoroughly enjoyed reading your ebook on business !
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Ingrid Grattidge of FL 11:21AM June 12, 2012
Justin Hinckley of TX 4:19AM May 22, 2012
aariona of GA 10:56AM May 18, 2012
Michael of HI 10:35AM May 18, 2012
Pissed off student of TX 7:50PM May 16, 2012
Roger Thaxton of TX 10:56AM May 16, 2012