President Obama’s recent visit to Michigan — and this magazine — have been shining a light on the depressing subject of college costs, and their seemingly out-of-control upward spiral. Tales of recent college graduates with few job prospects and mortgage-size debt have parents and students sitting down for serious discussions of bills and the future. […]
College Costs
Posted inTalent & Education
We already did your college report card, Mr. President
Speaking at the University of Michigan today, President Barack Obama blasted rising college costs and called for a “report card” that families can use to check the true cost of attendance. Michigan families now have that information in a special report on college costs published in Bridge Magazine earlier this month. Obama echoed the findings of […]
Posted inMichigan Government
Parting gift for college grads: $25k in debt
Clark Eagling has $45,000 in student loans — and he’s the lucky one in the family. His wife, Aimee Kessel, owes $90,000 for her undergraduate and graduate college education. The debt is so large that the couple may be collecting Social Security before they finish paying for college. “We’ve both essentially said that we don’t […]
Posted inTalent & Education
Student debt snapshot for each Michigan university
Is Michigan experiencing an unsustainable student loan bubble? Students at Michigan’s 15 public universities took out nearly $2 billion in student loans in the 2009-10 school year. That one-year, statewide student debt load increased $600 million – or 49 percent – in just three years (from 2007 to 2010). Click on the university names at […]
Posted inTalent & Education
EMU prez: Tuition is 'safety valve' for state budget
Legislators know universities are going to make up lost state revenue by raising tuition. In fact, that’s what makes cutting funds to higher education so easy, says Eastern Michigan University President Sue Martin. Martin knows what she’s talking about. She has a Ph.D. in accounting. She was deputy state treasurer under Govs. William Milliken and […]
Posted inTalent & Education
Paying for 'dream' — house and car cost extra
Eric Skibbe could buy a 2-bedroom, 1.5 bath house in a solid Detroit neighborhood for $60,000. He could buy a nice Ford sedan for $19,500. He could fly from Detroit Metro to Orlando, Fla., this winter for $300, round trip. All these elements of what many would consider the good life could be had for […]
Posted inMichigan Government
Legislator: Taxpayers get bad deal from universities
State Rep. Bob Genetski doesn’t have many fans at Michigan’s public universities. As chairman of the House Appropriations Subcommittee on Higher Education, Genetski, R-Saugatuck, has been an outspoken critic of how universities spend money — and a leader in the movement to reform the state’s higher education funding formula. A Bridge analysis found that Michigan […]
Posted inMichigan Government
'College tax' burdens students, state
Caroline Robinson and Barbara Twist are cousins who share far more than bloodlines. They are both seniors in college; each attends one of the top public universities in the nation. The similarities stop, however, when the tuition bills arrive. Barbara is paying twice as much for her education at the University of Michigan as Caroline […]
Posted inTalent & Education
'College tax' varies by campus
Michigan has 15 public universities (though three are technically part of just one university system — the University of Michigan). Students attending 12 of these 15 schools are paying a “college tax” — meaning that the annual net cost to them is higher than the average cost found at peer institutions in other states. The […]
Posted inPhil's Column
Michigan is turning students into beggars
For more than a decade, Michigan’s elected officials have imposed what amounts to a severe tax on the hundreds of thousands of students who attend our public universities. The consequences of this “college user tax” – clearly amounting to millions of dollars per year – include raising the cost bar for young Michiganders to attend […]