UO student loan debt soars

UO student loan debt soars

University of Oregon voted in June to increase tuition 6% for the 2012-2013 school year, contributing to skyrocketing student debt.

A combination of factors has boosted costs so that students have to mortgage their futures for a college degree. The reasons include declining taxpayer subsidies for state colleges, increasing pay and more expensive retirement and health insurance costs for faculty, administrators and other employees, and an arms race among universities to have the best of everything — rankings, facilities, faculties and sports wins.

At the UO, factors driving the cost increases include the university having to put ever more money into the state Public Employee Retirement System for current and future retirees; special raises former UO President Richard Lariviere quietly handed out to 1,100 faculty and administrators last year; and raises to 900 administrators two months ago.

Read more at The Register-Guard.

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