Just got an email from my school while I am sitting here in work. It turns out “due to an uncertain economic climate” Fairfield University is going to have to increase the tuition for the coming academic year. Prices have now gone from $1,575 per class to $1,785. This is pathetic. The inflation issue that Ben Bernanke, Paul Krugman, and other Keynesians refuse to admit is spiraling out of control is now hitting home. I immediately forwarded the entire email to Robert Wenzel at Economic Policy Journal. I’m waiting to see if he weighs in on his site. The truth of the matter though is that inflation is no longer simply increasing the price of commodities – everyday services are now rising in price – my wages are not.
What infuriates me is the fact that my school blames “economic climate”. All one needs to blame is the Federal Reserve and their disgraceful fiscal policies. They are inflationists who print money left and right! Documents released this week point out that $5 billion dollars went to Libya from the New York branch of the Fed to fund their government and rebellion. The US Central Bank loaned money to another government so they could kill their people… so – there you have it, just that one example, countless others. This is disgusting. The Federal Reserve is a criminal bank that counterfeits money for their interests. My interests (affording school) is no concern of theirs. Why? Because my interests don’t lead to world conquest and more money.
These criminal banksters must be stopped, we need to end the Fed now more than ever. I have never voted – as an Anarcho-capitalist I feel it is morally wrong but the time might be right for me to cast my vote in favor of Ron Paul. Dr. End the Fed, we need you now more than ever!
As for you Fairfield University, the jury is still out – do I let the market punish you for the price increase? Do I switch schools and take my education somewhere else? I’m not sure but it is quite possible. The market has a way of correcting these things on a micro level. These increases in prices won’t stop here. I’m sure it won’t be long before the undergraduates feel the pressure of inflation. This of course means that FFU is not entirely at fault for the situation.
A serious problem is the aggregate demand for degrees. Fairfield University and other colleges are like well oiled machines – pay the price and pump out a degree. The only problem is – as we know and have seen – the more abundant something is the less valuable each unit of that “something” is. This is no different with degrees. Student X is paying ~$100,000+ for a degree that is not worth $100,000. The demand for degree Y from student X is just not there. However these schools like Fairfield University make a living selling dreams. Pay your tuition (not matter the cost) and they will sell you a degree after a few years. They claim to be concerned with academic excellence but the truth is they are concerned with staying afloat and making money. That is the essence of business and not a low blow to them. All schools operate this way.
So while the price increase is terrible and sad, and will subsequently force me to change schools I can’t blame them entirely. I blame the Federal Reserve. Schools just want to get money, they don’t care if it’s from your Daddy or the Central Bank. They love loans. The more it costs them to supply X the more they can request on students’ behalf. This is the problem again. Not everyone is supposed to be in college – but the banks in this country and the President think this is untrue and everyone should. As we have seen above, this is wrong. If everyone has a college degree what good is the degree? It is not scarce. So soon a college degree will be equivalent to a high school diploma! The future millionaires of the country will be those who developed a trade or a skill and marketed it and started a business! College has become a myth!
Anyway, enough rambling – you get the point. Fairfield, please reconsider your actions! Not everyone has a pipeline to tax payer money to fund their college dreams and disasters! Some of us have to worry about paying rent. You are a business, yes, I know, I support this – but you are also selling dreams to fools. Taking advantage of the price mechanism is something I can’t forgive. The education students will receive is not changing with the extra cash. The teachers are not getting smarter! Nothing “new” will come. You are just ramping up the price because you know you can! This is where we will never see eye to eye. This is where I call you immoral.
Message below sent to me via email:
Dear Student,
Fairfield University’s graduate, and continuing studies programs continue to excel, and the reputation of our programs continues to rise as our graduates go out into the world and make their mark on their professions.
We consistently hear from employers that our graduates are in high demand in the marketplace, respected for their personal integrity, and immediately of value to employers because of the critical skills they have learned at our University.
Despite the current, uncertain economic climate, we remain committed at Fairfield University to maintaining and enhancing our commitment to academic excellence. Knowing that federal and state financial support for higher education is decreasing, and in some instances will be eliminated, we have made prudent and targeted reductions to our operating budgets in order to be as cost effective and efficient as possible, with minimal impact on the programs and campus life we offer our students.
After careful consideration of our financial situation, weighing the concerns of our students, along with our commitment to maintain the high level of programs and instruction you expect from us, the Board of Trustees has recently approved a modest tuition increase for our graduate and continuing education students for the 2011/12 academic year which can be found on the university’s web site at these links: www.fairfield.edu/tuitiongraduate or www.fairfield.edu/tuitioncontstudies.
If you have any concerns about financing your graduate or continuing studies programs, I encourage you to contact the Office of Financial Aid for assistance to help you with this information: finaid@fairfield.edu
Registration dates for courses during the summer semester begins on April 4 (May 1 for GSEAP non-matriculated students), for which these new tuition rates will be in effect. For the fall 2011 semester, registration will open on July 5 (Aug. 1 for GSEAP non-matriculated students.)
I thank you for being an important member of our student community and for choosing Fairfield University for your graduate and continuing studies education. I wish you the best in the year ahead.
Sincerely,
Jeffrey P. von Arx, S.J.
President
Fairfield University
Update: Months later after some disagreements between administration and I, I have decided to withdraw as a student at Fairfield University and finish my degree at rival and private institution Sacred Heart of Fairfield. Thank you for all of the hits this article continues to bring in!
I have been holding back comments as to not stir the bee’s nest but I think once I get my transcripts I may let some slip through the cracks. The real issue is that this article comes up on page one of the Google search results for “Fairfield University tuition” — no one likes that. If I could show you the logs of hits coming from FFU servers we would all have a laugh.
All the best to FFU.
