The new plan to bail out the WELS college happened at the same time HotChalk helped bury the LCMS college in Portland, Oregon.
HotChalk turned Portland into a large, online graduate school with a local college attached. Students funded it with student loans, the tool that will bury a lot more colleges in the future.
President Obama did some things to expand student loans, which fueled tuition inflation and the eventual conclusion that many degrees - like Martin Luther College's - were not worth $80,000 in personal debt.
There are many small colleges charging $50,000 a year for room, board, and tuition. That will give most people a pause, no matter how artfully the cost is disguised. A tiny college still costs $30,000, as any weary recruiter will admit.
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