Colleges need skin in the game. Colleges need to 100% control the student loan industry. If someone wants to major in Lesbian Dance Theory, that’s fine — the college can give them a free ride for X number of years. Will the student ever pay them back? Probably not. But if the college is OK with that, then there is no problem. And to be clear: This should not be a “loan pool” where many colleges get together to share the risk. This should be Harvard funding Harvard students. It should be Denver College funding Denver College students. Keep all the action localized and encourage everyone at both ends to make smart decisions.
Major in Lesbian Dance Theory....
Not as lucrative as Opposing Toxic Masculinity.
Professors in those topics will glide past us in their $70,000 cars on the way to the airport for two week luxury vacations in the Bahamas while we are struggling to pay taxes and reparations.
The mandatory salary lists of the University of Michigan had some in the $250,000 a year bracket-—lower than the athletic program coaches but still not exactly on welfare, either.