Posted on 12/06/2017 12:22:05 PM PST by Brian Griffin
End it. Let banks make loans that are backed by real collateral.
Then, there is the exploding priciness of textbooks. A little bit of research will reveal the fact that American publishers are no more. Just check out the Pearson Company and its connections and one can understand more about the scams parents are enduring.
When my daughter was going to college, it seemed that the various professors for many of her classes had written a book of his/her own, and required for his/her book to be purchased in addition to the basic textbook.
It seemed like quite the scam to me.
How about a new “rule”: never borrow more than you can afford to repay?
I have a better idea.
Immediately end, cease, desist, quit and stop all federal funding, loans, grants, subsidies and handout to colleges, universities and students.
STOP NOW!
Just like mortgage interest tax breaks are one reason why home ownership is so expensive; this government handout is the key reason why college expenses and tuition is so expensive.
And when you consider the majority of colleges and universities are little better than liberal indoctrination sites for idiot snowflakes - the need to cease this multi-billion dollar waste of taxpayer money is great.
STOP ALL FEDERAL FUNDING OF COLLEGES NOW. TODAY.
Yes, end it, but any bank loan should also NOT be taxpayer insured.
IMO, the best bet is contracts between companies and students (future worker). Biz pays to educate their staff, staff is obligated to work X time for education or pays back biz.
And let them charge interest rates and determine loan amounts by the probability and productivity of the majors. No more undischargeable loans for 10s of thousands of dollars for crap degrees.
End the government guarantees to banks! Let the banks decide how much money to lend an unemployed womens’ studies major.
Ah but therein lies the problem. The promise of that really good paying job that will pay off that massive student loan.
Maybe a little math lesson and a bit of reality — $300K is equivalent to a home mortgage. How many years does it take to comfortably pay off a home loan — 20 years, 30 years?
Just end the Dept. of Education.
Its another Fannie/Freddie time-bomb waiting to explode
Ya. Its a scam. And the prof’s textbook usually isn’t that great.
$4,000 for the student’s first year at the college
Headline: Republicans Want To Stop Poor From Going To College
Get the government out of it. Let banks decide
* Do we need more “gay black womyn studies” graduates? Or are there already so many that graduates will at best be serving burgers or coffee and not able to repay the loan
* Is it a good idea to loan $50k/year for an “Anthropology” major (a “worst college major” for salary on forbes)? Or is that major only worth $25k/year? If students can only get a loan for $25k, colleges will need to adjust or students will not enter the major (and colleges will need to adjust).
If loans start being given based on probable outcome and ability to repay the loan, everyone wins. (expect people who want a useless major and politicians who want to pander to them) Banks are good at predicting ability to repay -
until the government steps in and yells RACISM, SEXISM, and CAPITALISM SUCKS. And employers will have larger pools of graduates with useful skills. And more graduates will have job opportunities. And I’d bet a lot of college administrators would love to teach and do useful research in their institutions but are restricted by PC terrorist who are supported by government interference in paying for education.
Exactly. The US Government should have no part of college loans.
Once they get out, college prices will drop to realistic levels, or the colleges will shrink or close.
The next shoe that should drop is college housing. Some of the dorms I’ve seen are absolutely luxurious. College towns are full of high end restaurants and stores.
When I was in school, mid ‘80’s, about the best store in town was a Kmart. There were a couple restaurant/bar places that catered to students, 2-3 pizza places and a Burger King. This was a campus with 10,000 students. Dorms were basic and acceptable. I ended up moving off campus as soon as I could. I rented a room from an older lady who was about 80 years old and had three upstairs rooms to rent. Rent was dirt cheap, I made all my own meals.
I haven’t driven through the town in many years and I’m sure it’s changed a lot, not for the better. UI know the college has. A few years ago, this formerly conservative state college opened the Jim Crow Museum of Racist Memorabilia. My wife has sent them some money in the past but not any more.
The worst part of this problem is that “globalization” has either sent many of our good-paying jobs overseas, or made it much easier to traffic foreigners here to do them - so few decent jobs are available to many graduates (even those with traditionally stable degrees). I’m watching trafficked Asian coolies fill financial-sector jobs here in the NYC area, and pity any young Americans trying to get a start in those areas. Just as with the braceros in many blue-collar jobs, the employers would rather hire the imported Asians for the white-collar jobs.
“$4,000 for the students first year at the college”
It’s $4,000 federal plus as much the student can borrow privately, of which the first $4,000 of each would not be dischargeable.
Sabbaticals are waste of taxpayers money.
Professors start working a 40 hour week, and no pay for the summer three month hiatus (unless you want to teach during those months).
Eliminate government loan programs.
Leave the loan programs to private banks, and watch them provide loans at their own peril if not backed by adequate collateral.
Go back to tuition costs relative to that of pre-1970’s when anyone could work their way through college (as I did).
BS. I got a job and laid mine back. If a millennial wants to rack up $50-100k to get a worthless degree that makes them feel good, that’s on them.
So, how about this:
1. Get the Dept of Ed out of the loan business completely
Or, if they want to stay in it
2. Only loan for those wanting a STEM degree. Everyone else gets it for a private lender
Tuition costs will drop like a rock and the number of Pre Roman Feminsit Studies graduates will fall dramatically.
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