Actually I kind of agree, why are tax dollars being spent to subsidize the education of people (50k -100k) etc to get jobs that will probably not pay them much more than minumum wage when they graduate?
The schools can exist, but why should tax dollars be subsidizing educations with such little cost to benefit?
Note the Department of Education is apparently targeting only for profit colleges.
Looks like the school doesn't have the meatballs to run this without government loan students.
So what's the new criteria for the student loan cut vs expected earnings? what was it before?
Similar things in NYS
unintended consequence of the Obama Administration’s jihad against for-profit institutions.
Sorry, the ONLY Le Cordon Bleu is in France.
The US ‘schools’ are fakes.
So, State schools can still con kids into amassing $80K debts for degrees in Womyn’s Studies?
I agree. My ex-BIL went to the Scottsdale Culinary Institute, took loans out for some 36K and ended up in a back kitchen somewhere chopping vegetables. An illegal who crossed the border last night could do the same thing. The ex-BIL was an idiot and ultimately left my SIL stuck with that loan, but to be fair, he was promised all kinds of future employment by the school recruiters. Obviously, there are people at these schools getting very, very rich but making unreasonable promises.
Take the government money out of any endeavor and prices will drop to much more reasonable levels.
That goes for colleges, health care, agriculture price supports, etc.
Those old enough to remember life before, or in the early years of Medicare know that the cost of medical care was very reasonable, probaly no more than 25% of today’s, and usually much less. The health insurance industry was very small because most people didn’t have any - they could afford to pay for reasonably priced medical treatment out of pocket.
Once the federal government started pouring billions into the health care industry prices skyrocketed. If the government will pay a certain amount for something you can bet the price will jump up to that level or higher.
The same thing happened to the “education” industry. Once government subsidies and loan guarantees began at a high level prices skyrocketed.
In agriculture, many products have government price supports. This is done by various methods in different programs but they all work the same way - they eliminate price competition and guarantee prices will stay above a defined level.
Almost all of our difficulties with rising prices or diminishing supplies of anything are caused by the abandonment of free market principles, government meddling and market controls of various types.
We all know the basics of supply and demand but they don’t work when the government distorts the markets in attempts to make social policy or acheive political objectives.