Posted on 01/17/2022 12:43:02 PM PST by grundle
Let the schools handle the loans, the government shouldn’t be involved.
I resemble that remark! Kid #6 going in September.
It's not dischargeable in bankruptcy.
+1
Universities are litterally building and marketing programs for students who otherwise would not be able to get into college due to poor academic performance, low test scores and low intellect. These schools know the students can't pass more rigorous programs, so they push them into worthless degrees for lots of government guaranteed cash.
Take away the federal guarantees and these dumbed down programs will disappear (and the schools will scream).
Sometimes I think the solution is ok - forgive the debt! Then shut down the program. Someone says that’s unfair to me or my children, send them a list of the debtors and say “ here’s the reason go get your money from them! They ruined it for everyone!’.
Maybe shut it down for 5 to 10 years revive it only for STEM.
Those were the terms—or it would have been an even worse bet for the taxpayer funders. But with all thoae kids presumably in doubt I understand now where you’re coming from on this.
Great idea! Before pushing “free” college for sure. Colleges held liable for finding a graduate a job within a year, or all student debt goes to the college. Something like that.
The answer is simple. Let the debt be dischargeable in either chapter 7 or 13 bankruptcy. The borrower gets dinged, and lender(s) will be more selective in lending. In the end it’ll cut the flow of funds to colleges which can only be a good thing.
Then we can talk about taxing endowments.
Probably the best approach !
Exactly
and a bunch of woke program monitors would be doing what they are skilled at: do you want fries with that or in the modern age: this is how you operate the kiosk.
No 18yo understands what it will be like to be an adult and pay back the debt. They just don't have a frame of reference.
Most 18yos have no real idea what direction their lives are going to take and/or what kind of education will help. So we tell them to go into debt and get a degree that may or may not serve them well.
How about no loan without “insurance”, which takes into account the amount loaned, field of study, high school GPA, high school quality, and so on, the recipient of the loan buys it yearly on the open market. No insurance = no money. Drastic, but that would fix an enormous number of problems all at once going back to grade schools.
PS: schools would be welcome to pick up the insurance tab.
Why not actual colleges that still pushed worthless degrees.
The current college scam started with the 1971 Supreme court case
https://en.m.wikipedia.org/wiki/Griggs_v._Duke_Power_Co.
Which decreed that any testing which had a lower passing rate for blacks than whites was illegal discrimination under the 1964 Civil Rights Act.
Before that, companies could test applicants for literacy and IQ, and decide accordingly. After that, companies made college degrees a requirement for any job that assumed an IQ above room temperature.
Eliminate that one key thing, allow companies to test without risking lawsuits, and they will go back to testing applicants out of high school and hire accordingly.
If the employee is a good worker, the company can do tuition reimbursement for relevant advanced training.
So few blacks would get gifted scholarships that the Left would scream. But I would not care.
Wrong again.
Zero loans*, zero debts.
*= kiddo #3 was given a $5000 “merit award” which turned out to be a Stafford loan. Never applied, never signed papers. Took six months to get it off the books.
When your kid goes to college, on the first day, they “register” and run a gauntlet of sign-up tables: College Republicans, LGBTQ+, Rosa Luxemburg fan club, Harry Potter reader society, etc.
Some of these tables are signing up for loans. Believe me when I tell you - this is like those credit card applications you get in the mail - “You’re prequalified”, etc. A lot of them carry the title of “scholarships”.
I have never fallen into this trap - but the vision that people here have of kids signing up for loans sounds like you all think it’s like getting a mortgage with 96 pages of disclosures and a two hour close.
It’s not like that at all.
This is a racket that’s run for the benefit of colleges and especially the high-salaried, non-didactic administrative bureaucracy.
You may be able to WOW the ultimate decision maker but ya gotta get past the box checker to even get that interview.
University should be paid for by the state.
But that means
1. Cutting out the studies that don’t benefit the state. So no transgender studies
2. Cutting out colleges that aren’t in the top 10.
3. Cutting down the number of students who go to college. Probably 10% of the number today
So far fewer places in far fewer colleges in far fewer fields.
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