Among those businesses that suffered barely a scratch in the Great Recession and this continuing slump is the college industry, sis-boom-bah!
Depending on which survey one sees, tuitions and fees soared 27 percent over inflation in the last five years, or four and a half times inflation since 1980, or just plain 104 percent in the last decade.
In response, families struggling with flattened incomes got crocodile tears from Congress and President Obama. The president and the members weeks ago slunk away from the student loan crisis, as they have from the universities’ tuition grabs.
The student loan deal returned current interest rates to a hefty 3.9 percent, but that will grow as the cost of government borrowing surely swells. Obama in his 2012 annual message warned colleges they would face cuts in federal funding if they failed to curb student costs.