i’ve heard the student loan bubble could burst, much as the mortgage bubble burst a number of years ago.
We need to rethink the whole concept of student loans, in my opinion. If you get loans to get a degree in some field which leads to a good paying job/career, where you will get a job which enables you to pay off the loan, that’s one thing. It’s very different to get a degree in women’s studies, black studies, etc. which doesn’t qualify you for any sort of job/career.
Perhaps loans should not be given out if you are majoring in a useless field, useless in the job market I mean. Tough decisions should be made, about who gets loans and for what purpose.
Agree wholeheartedly. You should have to take an economically useful field of study...ie science, business, engineering...something in which you can likely get a job that will enable you to pay back the loan...in order to get a loan. That would also incentivize American students to go into areas where we are short of trained people.
No Philosophy, gender studies, sociology, African studies, 17th century French Literature, etc etc unless you can pay for it.