Posted on 11/19/2022 3:21:35 PM PST by karpov
A federal judge in Texas ruled late last week that President Biden’s plan to cancel student debt is unconstitutional.
It was a wise decision. Biden’s boon to borrowers would cost about $400 billion — a stiff price even in our bloated age of trillion-dollar deficits.
Furthermore, forgiving student debt hides the real villains: the universities. America’s colleges, under the cloak of enriching young minds and imparting skills, run a scheme that would make Sam Bankman-Fried blush. Every year, they lure hundreds of thousands of students into debt servitude so they can get paid billions in taxpayer dollars and then leave students and taxpayers with the tab.
We cannot enact debt cancellation programs every 10 years. Instead, universities should be held accountable for fraudulent advertising.
Higher education is obviously in crisis. There is currently $1.7 trillion in outstanding student debt. The cost of college has gone up more than 400 percent in real terms since the mid 1970s, and we all know the education students receive is not four times better than it used to be. In the humanities, there is convincing evidence it has gotten worse.
About 39 million Americans are college dropouts. One out of four freshmen drops out by the end of their first year. Only two out of three make it to the end of the program, which for many takes six years. Then there are the baristas with PhDs and the Uber drivers with MFAs. Clearly, college for all is not the surefire ticket to the American Dream.
For these past sins, rather than ask the government to clear the debts, we all might be better served if indebted students formed a class action lawsuit against the universities for fraud.
(Excerpt) Read more at nypost.com ...
☑️🎓
In 1985, that $8,100 was enough to cover most if not all of four years tuition at most colleges and universities.
I also worked full time while going to school at night. That allowed me to go to school while being able to afford my own car and apartment. When I graduated from my night-school program, I was debt free.
What colleges charge students today is criminal. They can charge exorbitant tuitions, knowing that their students will just get a loan from the government to pay for it. Meanwhile college endowments grow and grow. Harvard University for example, has an endowment north of $40 billion.
Ohio State had a multi-million dollar budget diversity department led by a Dean several years ago. I am certain they are far from alone.
This is a political officer role, make no mistake about it.
Thank you! I knew the general outline of that, but not the details to post about it without research.
Everything is racist in our brave new world, and has been for a long time. Testing for competency and aptitude is racist.
However, that is never enforced. We have many employees (including myself) in executive, professional and managerial positions with no college degree. When I interview candidates, I don't even look at their educational background. I'm more concerned about experience, attitude, ability to learn and how they would fit in with the rest of the team.
We didn't have time to socialize.
Higher education/universities are a con job. They could teach most of what they cover with remote video, for dirt cheap, and reach millions, not just a classroom full of people who's parents are well off.
Higher education/universities are a con job. They could teach most of what they cover with remote video, for dirt cheap, and reach millions, not just a classroom full of people who's parents are well off.
I always thought we should go back to apprenticeship programs for the vast majority of people. I wish my parents and grand parents had encouraged that instead of college, and then advanced degrees.
Pure snobbishness from the whole family, IMHO, despite my grandfathers both having come up from apprenticeship, and one of them becoming quite successful and highly respected.
Despite having four degrees, everything I ever found useful in life and in making money was either self-taught or learned from observation, or just having ‘common sense’
STudent loan history:
NDSL NATIONAL DEFENSE STUDENT LOAN managed by the govt.
Then, NDSL NATIONAL DIRECT STUDENT LOANS managed by govt
Then to mgt by banks
and then back to mgt by govt.
https://www.bankrate.com/loans/student-loans/history-of-student-loans/
and
Why do we now have to solve it for them? They’re the ones highly educated now, let them put that education to use and figure it out.
Bob Denver before Gilligan’s Island was the laid back beatnik Maynard G. Krebs on the series Dobie Gillis.
When anyone said “work” he sat up and loudly cried out “work!?”
There should be a push for trade schools.
Graduate and have a very good paying job and have zero college debt.
“The unions representating the building trades have great apprentice programs.”
One of my cousins did this, he’s now making almost 100k a year with no college debt.
I am most familar with the one run by the Seafarers’ International Union. Their programs are excellent, not just for apprentices but for mariners who wish to upgrade their skills.
I am not surprised about your cousin’s success.
Nah the student loans need to be guaranteed and underwritten by the schools. no taxpayer $. And students can bring charges when they can’t get a job as a bikini inspector with their doctorate in bikini inspection.
Hey! I used to work at pep boys. We didn’t want them there either
“it’s” should be “its”. “Its” denotes possession...”it’s” means “it is”. Spread the word far and wide. Stop the ignorance.
Part of the problem could also be the borrower’s access and USE of the loaned money is not adequately restricted to true education costs. I suspect that much of the money was used for other things young people with a boon of new cash would do.
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.