Tuition at the community college I went to in 2010 was $130/credit hour. 15 years later it's $274
At least down here at my middle of nowhere community college in Illinois, we actually JUST went to $137/hour for this coming A/Y after sitting at $125 for at least a decade. We are a bargain compared even to the state regional university in the same county, that the last I checked ran about 4x that.
in order to overpay professors
I've seen a few references to "overpaid" professors in this thread, and I'd sure love to know how I missed out on that gravy train.
Just as a reality check, faculty pay can be fairly complicated, but I'd say my experience across a couple different state schools and now a community college is that if you see 6 figure salaries, a big chunk of that is likely coming from grants, or in other words external money that the professor applied for, primarily to fund their research but also to pay part of their salary. Grants are insanely competitive, especially big money grants, and you're not getting them unless you both have an established track record of results AND continue showing that you're using the money as you said you would.
At my school, someone making 6 figures is likely someone who's been there 25+ years and teaches well above their contracted amount.
There's a lot of pressure too to shut down tenure track lines or even non-tenured full time faculty and replace them with adjuncts. Adjunct pay largely is terrible(at my school it's $818/contact hour for a semester) and rarely does it offer any benefits.
Administration, though...that's a different story both for raw salary numbers and how many assistant to the assistant deans, vice presidents, and other administrative bloat that wasn't there 20 years ago.
Some, but not all, loan contracts had a "public service loan forgiveness" clause. Do something they defined as "good" for ten years, make minimum loan payments, then apply and get the rest of your loan forgiven.
Of course that "good" might be teaching elementary school, which pays poorly compared to private industry. So one may make actual financial sacrifices under good faith that their contract will be honored for their public service.
As these programs go, they didn't define "good" very well when writing the law, because the first applicants would have been ten years out when the law went into effect. So there was confusion by the end users if they qualified.
I'm someone who's had qualifying employment for public service forgiveness(PSLF) my entire working life, first as academic staff and now as faculty. I could earn double or more with my degree in industry, but enjoy teaching way too much.
The whole PSLF program has kind of been a mess, and before 2020 the number of people who had actually received it was pretty small(I think in the hundreds, out of all the tens of thousands of people potentially eligible who actually applied for it). It has to be done in a VERY specific way, and that way was not particularly well documented nor were all the "catches" that would disqualify an application. Over the past few years, a lot of work has been done to clean it up, and that included offering a period of amnesty to count payments that were made but were previously disqualified for several reasons. A whole lot of poeple were able to sucessfully get their loans discharged under PSLF. I'm on track to hit 120 payments in November, but right now as far as I'm aware no applications are being processed.
Just to be clear too, the program requires that you make 120 on time payments for at least the full amount monthly amount your payment plan requires, and only payments while you were employed at a qualifying employer count toward this. The typical person who has their loans discharged under PSLF will still have repaid the principle+a good amount of interest, but just not as much as if they'd paid for 20+ years.