American Thinker Publishes Op-Ed Detailing Billions in Higher Education Bailouts and the lasting impact on Americans
SAN CLEMENTE, Calif., May 31, 2022 /PRNewswire/ — Universities lost 5% of their students in the Covid lockdowns and took a revenue hit of about $34 billion. Yet they received over $100 billion in government aid, Nelson Partners CEO Patrick Nelson points out in his new bog, up now at AmericanThinker.com.
Nelson says higher education schools were not in the same dire financial straits as many small American businesses, including his own which lost $12M and managed to get a $1.2M loan. In fact, universities only suffered only a 5% drop in enrollment while charging full price for tuition.
"If any business had a financial foundation strong enough to weather COVID-19, the higher education business qualifies. Yet the amount of money the federal government pumped into colleges and universities was mindboggling," says Nelson. "Universities and colleges take in $670 billion a year in tuition and fees. Their enrollment fell 5.1% in the pandemic, down almost one million students, a revenue hit of $34 billion a year.
"Yet they received more than triple that amount in federal aid: upwards of $115 billion. In the government’s all-out spending binge to counter COVID, higher education made one of the biggest hauls of all."
While the world moves away from COVID-19, the windfall of money from the federal government to higher education schools will remain a significant problem for Americans in the form of inflation.
"The inflationary and market-warping effects of this spending binge will reverberate for years. If any business had a financial foundation strong enough to weather Covid-19, the higher education business qualifies," Nelson states. He calls the amount of money handed to colleges and universities "mindboggling."
Why so much? "Sure, higher education is important for our future, blah blah—but, also, for 30 or 40 years, schools have been indoctrinating young students in liberalism, social activism, big government, and the evils of business and capitalism," Nelson writes.
The Democrats, he says, "are trying to buy them on a scale so massive you have to admire their moxie."
Nelson Partners is a student housing builder located in San Clemente, CA. Nelson Partners manages 23 investor-owned buildings, worth $900M in 13 states.
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