Page 13 - November 2022 Issue.indd

officials through direct state and local
government funding.

Th e financial crisis of 2008 started the
trend of less public funding for higher
education to the extent that from 2008
to 2019 state appropriation for higher Because you deserve qqualified, llocal representation
ed funding reduced by 58%. To off set when managing life’s important issues.
the reduction in public funding, colleges
had to find a new source of increased

revenue and out of state students fi t the ? ESTATE PLANNING 300 Market Street
bill perfectly. Competition for out of ? RESIDENTIAL & COMMERCIAL Suite 104
state students kicked into high gear, so REAL ESTATE AND SETTLEMENTS Denton, Maryland
much so that from 2008 to 2019 state ? LLC FORMATION & BUSINESS LAW 21629
appropriation for public education was ? MUNICIPAL & ENVIRONMENTAL LAW
reduced by 54%. 410.310.1774
? GENERAL LEGAL COUNSEL
Colleges and Universities needed to Our attorney, Patrick Thomas, and our Settlement shayman@mlg-lawyers.com
leverage their academic reputation and Agent, Sandy Hayman, are available to travel to your www.mlg-lawyers.com
social life and experiences to compete preferred location.
for students. Tuition increased 78%
from 2007 to 2019. The number of
applications to colleges continued to over the last 40 years and much of it has The need for a college degree to
increase during this period while tuition been covered by borrowed funds. achieve a successful career is changing.
costs increased 78% from 2007 to 2019. In his inaugural speech in 2009 President Employers, both private and public are
The increase in costs to students and Obama made higher education a priority beginning to remove the requirement of
their families was paid by an unlimited with a goal of the United States having a college degree for many jobs. Th ey are
source of borrowed money with no the highest number of college graduates realizing that a college degree has come
accountability on the part of higher in the world. to signify, as Governor Larry Hogan

education for the borrower’s (student) stated in The Wall Street Journal Op-Ed
ability to pay it back. Students and their College enrollment did increase a “credential” instead of an education.
families borrowed more to pay for the during the Obama years. Student loans We must reorient the education system

“experience” of going to college. outstanding doubled from $600 billion to fit the economic and cultural needs
in 2010 to $1.2 trillion in 2016 and is of the 21st century. A patriotic and
Colleges began to increase the number now $1.7 trillion. The United States was skilled workforce unencumbered by

of course offerings and majors to attract 13th in the world at the beginning of the unbearable levels of debt will allow the

more interest. Billions of dollars in public Obama administration and remained U.S. to compete with China and other
and private funds were spent to upgrade at 13th at the end of his administration. adversaries with defending the values
facilities and build amenities to enhance All this debt and we remain noticeably of the American founding.”
the college experience. Improved options behind.
for living arrangements, sports facilities, A college education does not validate

food courts and special amenities (lazy The student loan mess is not about a qualified and quality candidate, skills
rivers) more akin to a 4-star hotel than millions of people making bad personal and experience do. I understand and I
a facility of learning and educational choices. It is about a complex industry, acknowledge that a college education
exploration. higher education, running amuck is necessary as a foundation for many
with an unlimited amount of fi nancial professions and this requirement should
Gone are the days of single sex dorms, resources. Prying on the dreams and and will continue. But higher education
communal bathrooms, and cafeteria style aspirations of Americas youth, higher can also supplement and enhance a
eating arrangements, extracurricular education has convinced their consumer career path as one works and achieves
clubs and organizations, there is so much (students) that their product (an experience. Community Colleges are
to do on a college campus. A National education) is valuable at any cost. For an excellent resource for skills-based
Bureau for Economic Research study decades we have been convinced by education to supplement and enhance
in 2010 found that in 1961 students K-12 education that to be successful job opportunities.
spent 40 hours in class and studying in whatever your life’s path may take,
per week. That number dropped to 27 education beyond the 12th grade was Apprenticeship, work experience and

hours in 2003. necessary. Only recently are we realizing certification programs need to be
expanded and supported by public
College tuition has increased on average that you do not need an education education. High school graduates able
about 8% per year based on numbers beyond high school to be successful. to secure a career certification are

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