I guess I, too, am one of those “magnanimous” people who saved for my child’s post high school education. Actually it really was not that difficult. You would be amazed at how much money you can accumulate in 18 to 20 years if you are diligent and have a goal.

There are many other avenues to explore including scholarships, service academies, military grants for service, summer and part-time jobs that contribute to the goal.

The other thing that I hardly ever see being addressed is the ballooning cost of colleges. In 1969 the cost to attend UMass was in the neighborhood of $2,500, while today it is well over $30,000! Our esteemed Senator Warren was paid over $300,000 annually to teach one course at Harvard Law School. The tuition at Harvard is well over $50,000 annually and their endowment fund is worth over $40 billion. Check out the payroll at UMass Amherst online; many administrators are making over a $1 million annually (plus very generous pensions and health care plans).

There is no questioning the value of a higher education, but the current system is flawed, and forgiving student loans is not the answer. When you take out a loan, you sign a legal agreement to repay it.

As this country approaches $31 trillion in debt, we cannot afford it. What’s next? Mortgages, car loans, credit card forgiveness?

Frank Kilduff

Bittersweet Road

East Falmouth

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Gadfly

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