Posted on 03/07/2012 10:34:45 AM PST by SeekAndFind
No , it isn’t. I missed that class because I had to change the oil on an airplane.
The first law to remove should be the "Equal Opportunity" laws that are used to hammer employers who don't hire or promote minorities in the "right" proportions. Then employers could hire people without degrees and just test applicants for reading, writing, and math abilities, or just be allowed to look up the applicant's SAT scores and school transcripts.
The second law to remove is the one which makes student loans non-dischargable in bankruptcy, and which gives taxpayer guarantees on student loans. Suddenly, loan issuers would be reluctant to extend $150K in loans to people who want to major in Women's Studies, or otherwise look like they would not be getting a job at graduation that would allow for loan payback.
What I would like to see would be for universities to back loans from their own endowments. When professors' pension funds are on the line, they will be less willing to admit marginal students.
Brilliant. About the same probability of happening as me marrying Salma Hayek, but brilliant.
Of course the universities would hate it. I could see making the universities putting their money where their mouths are by making them underwrite at least a percentage of the student loans as a condition of participating in the federal student loan program. If the feds completely exited the picture, private loan issuers might make similar demands that the university accept a penalty for each default.
In the absence of federal loan guarantees (and absence of EEOC threats), private loan companies would deny loans to people who do not meet a profile that indicates a high probability of payback (no loans unless you have a minimum SAT/GPA profile, no loans for worthless majors, no loans to schools whose graduates do not get decent jobs upon graduation).
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.