Here's How We Solve Impending Student Loan Disaster

Townhall.com ^ | November 18, 2016 | Wayne Allyn Root

[D Rider]

That’s not FAIR! What about all those professor ‘s that teach women’s studies or black history or transgender sexuality! What will they do when those courses and majors are eliminated!

[Paladin2]

Yep, peak higher edumCation.

[Brian Griffin]

As for education, the US government needs to let individual states do their work.

Except for collection of existing loans, the US government needs to get out of the student loan business.

The IRS might be permitted to collect and remit funds on federally outlined student/college financial agreements, but no more than say 1%/.2% of annual W-2/Schedule C/net 1099 income (for up to no more than 15 years) for any semester/monthly period of college attendance.

[CIB-173RDABN]

The problem is neither is likely to happen. Universities would crumble without the scam cash flow they have used to build huge buildings, endowments, programs, payrolls, and on and on...

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And the problem is?

Let them fail.

Universities have lost their way. They have forgotten their purpose, education. Instead, they feel their role is to reshape our society. So I shed no tears for them if they fail.

I would support Science and Engineering (and related subjects) but feel good studies need to pay their own way.

[depressed in 06]

Make everyone who got a degree in lesbian studies or law pay for someone with an engineering degree.

[boxlunch]

Agree!

[RegulatorCountry]

Sue the universities for fraudulent misrepresentation to claw back the principal. Their graduates can’t even get a job with such worthless diploma mill degrees.

[semaj]

Govt holds much of theblame for allowing abuse of H1B visas as well as a flooding of the labor market with cheap illegal labor. Universities and liberal arts students the rest.

[LambSlave]

We? It’s not OUR problem, it’s the idiots who spent $80k for a degree in basket weaving. Garnish pay, can’t be discharged in bankruptcy, no problem.

[husky ed]

I went to Community College and to a course in something that I could get a job in. Not spending 4 years on Women's Study, French Lit, etc, etc.

Ed

[expat_panama]

I paid mine off,

So did I and my guess is so did 9 out of 10. 

This article looks like little more than a rant about something everyoen likes to make things up.  Example, the article:  Student debt is now in excess of $1.2 trillion.  The number from ed.gov is $1.4T. 

The article also sad "Twenty-five percent of those with student debt are in delinquency or default", and Student Loan Hero says "Student loan delinquency rate of 11.1%" while the WSJ says "43% of the roughly 22 million Americans with federal student loans weren’t making payments".  Here's what the Dept. of Ed has:

There's a lot to this but the way everyone clings to their own reality system makes it hard to work out policy.

[Elsie]

Yes, you, your spouse and your 4-year-old child who has yet to start pre-school are each saddled with $1000 in student debt.

Why?

I didn't co-sign anything!

[Elsie]

There should be no federallyTAXPAYER-backed student loans for such liberal arts Majors as sociology, English and anything ending with the word studies. ANYTHING!!!

[Elsie]

We need to sue all colleges that gave out useless degrees to those student stuckers.

Well; Trump sure put the REST of the 'colleges' on alert!

To the tune of $25,000,000!!!

[mn-bush-man]

Trust me, CIB, I’m in 100% agreement with you. I wouldn’t shed a tear if the post secondary scam was ripped to shreds. I just don’t see it being allowed to happen.

[pepsionice]

I would agree that if you were in an engineering or medical type education program...I could see loaning some kid $25,000 a year and have a good feeling they would be able to pay it back.

With a liberal arts degree? The most that you should loan the kid $12,000 a year. I might even mandate that no loan should be approved for a first year liberal arts student, and force them into some community college low-cost deal.

[Elsie]

It should be the schools themselves.

No; IT SHOULD BE THE STUDENT!

[OrioleFan]

Me, too. I feel like a real chump.

[OrioleFan]

Did you see there’s a liberal proposal to add A to STEM to make STEAM. Guess what the A is for, and be nice because it’s obvious.

[OrioleFan]

Similar situation here when my daughter went out of state to Penn State. Expensive and she qualified/got very little in scholarships. She got jammed into dorm with 7 other students, 4 who had a virtual free ride with all the scholarships and grants. All 4 were out within a year for various infractions mostly related to drunkenness and grades. I had to threaten the school housing to get my daughter out of that dorm environment and into a regular dorm room. She graduated 2nd in her STEM group (meteorology). I paid it off as quick as I could.