The Higher E ducation Student Debt Poster Campaign Each poster is 34” by 44,” print at a copy center Print on plastic or foam board or banner Post all over campus during September each year Place on metal laws stakes, get from copy center Hang banners on balconies and stairs
The Higher Education Student Debt Poster Campaign Each poster is 34” by 44,” print at a copy center Print on plastic or foam board or banner Post all over campus during September each year Place on metal laws stakes, get from copy center Hang banners on balconies and stairs Place in outdoor and food courts Cover a wall with many posters Post in residence halls, one in each Post in sports stadiums Make small handbills and handout at events
Why does college cost $440 billion a year nationally? What are we paying for? Professors who make on average $109, 000 a year when lawyers, to compare, make $91, 000 a year Professors who work 200-400 classroom and office hours a year when lawyers work 1960 courtroom hours a year (both do prep) Professors to have a paid year off every 3-7 years Additional part time professor substitutes (paid only $3000 a course) 70% are instructors and not professors (1975 43%) Teachers with no training in teaching, grading or curriculum 84 non-faculty workers for every 1000 students (1976 only 42) High failure rates. 1/4-1/3 of freshmen drop out or fail Sports programs. 99+% don’t pay for themselves Only 5 football teams in the nation make a profit Professors to conduct research 20% student representation in institutional governments Academic senates which support a definition of academic freedom which denies students fair grading standards Educational purchases with no instructions on how to use constitutional, civil, contract and consumer rights in the educational setting The average student in America has $30, 000 in debt after their undergrad Stats by Hacker, Dreifus, 2011 Endorsed by J. Steiglitz Chief Economist World Bank and Nobel Laurate
Where does my tuition go? To classrooms? Old ass projector Cancer lungs chalkboard My ass hurts seats
Where does my tuition go? You can’t find my grade? To administration? Yes, I checked the website I didn’t receive the packet Transcripts cost $5.00?
Where does my tuition go? To the campus? Sports & Athletics No free parking Frames for the hall of professors Sprinklers aimed into walkways
Where does my tuition go? To student events? School mascot Volunteer student band “free” Hot dogs
Where does my dorm fee go? Comfortable facilities? Plug in internet Vintage decor Audio porn through paper thin walls Spooge stained mattress
Grad students av outstanding credit card debt balance for 2006 was $8,612, up 10% from 2003 (Nellie Mae)
Student loan debt has been growing exponentially since 2002 (NY Fed, Bureau of Economic Analysis).
In 1940 only 25% of the population had a high school diploma or higher In 2009, 88% of the population has a high school diploma or higher, 55% has some college., 30% has a bachelor’s degree or higher (US Census bureau)
The national student loan debt is at one trillion It grows %2, 854 per second Americans owe morein student debt than in credit card debt
Average cost of a wedding is $24,000 42% of us adults with student loans still have a balance, the same as the average student loan 21% (age 35+) of US adults with student loans still have a balance 47% (age 35-44) of adults with a student loan still have a balance of $20, 000 34% (age 45-55) with a student loan still have a balance of $20 000 In 1987 10% of people delayed marriage because of student debt In 2002 10% delayed marriage because of student loans Average of marriage was 27.7 for men and 25.5 for women, in 2012 this was 28.7 for men and 26.5 for women (forbes.com, profam.org, cuponcabin.com, businessweek.com, investopedia.com)
30% of whitepeople in the us are employed full time right now 25% of Americans of color are employed full time 11% of white people and 11% of americans of color are unemployed and not looking for work
Student loan debt $870 bill Auto loans $730 Credit cards $693 39% of student loan borrowers are under 30 26.9% of student loan borrowers are 30-40 yrs 17% of borrowers are 50+ Average student debt in 2009-10 was $17, 371 Average student debt in 2000-01 was $12, 849 (NY Fed reserve, Inst for College Access & Success, McClatchy-Tribune)
American Student Debt by StateHighest to lowest (DC $30,000, UT $13,000) Alabama Michigan Indiana Mass. South Dakota Idaho Wisconsin Missouri South Carolina Oregon Nebraska North Dakota Florida North Carolina Colorado Nevada Louisiana California Georgia Arizona Wyoming Kentucky Hawaii Utah DC Iowa Connecticut New York New Hampshire Minnesota Pennsylvania Vermont Rhode Island Maine Alaska Ohio Kansas West Virginia Mississippi Tennessee New Jersey Illinois Virginia Texas Montana Oklahoma Washington Arkansas Maryland Average 4 yr debt: public $20,000, private non-profit $27,500 and private for profit $33,000 debt per borrower (DC $30,000 / Utah $15,000) Source: Wall St. Journal, Fed. Reserve, Project on Student Debt, US Dept. of Ed.
American Student Debt by State% of students graduating with debt per state 50% Maryland 48% Florida 55% N. Carol 50% Colorado 40% Nevada 49% Louisiana 48% California 55% Georgia 45% Arizona 48% Wyoming 57% Kentucky 37% Hawaii 41% Utah 51% Alabama 59% Michigan 61% Indiana 62% Mass. 79% S. Dakota 67% Idaho 64% Wisconsin 69% Missouri 54% S. Carolina 61% Oregon 67% Nebraska 70% N. Dakota 49% DC 73% Iowa 63% Conn. 65% New York 70% New Hamp. 72% Minnesota 71% Penn. 60% Vermont 69% Rhode Isl. 62% Maine 60% Alaska 66% Ohio 59% Kansas 73% West Virginia 53% Mississippi 49% Tennessee 66% New Jersey 58% Illinois 58% Virginia 62% Texas 70% Montana 54% Oklahoma 58% Washington 57% Arkansas States are in order from highest to lowest average student debt per borrower (DC $30,000 / Utah $15,000) Source: Wall St. Journal, Fed. Reserve, Project on Student Debt, US Dept. of Ed.
Number of retirees who had social security reduced because they were behind on student loan payments 2001 22, 000 2012 115, 000 (US Dept of treasury)