He keeps saying “cannot repay”.
A lot of it is will not , don’t want to and why should I have to.
It was a bad idea when zerohisseff made it a federal deal...with an eye towards this eventuality, I feel sure. And it’s a horrible idea to shift the cost of a black trans basket weavers in sub-sahara Africa degree on to Bob the cabinet maker.
Get to the Root of the Problem….the institutions themselves.
#1. Academia needs skin i the game. They need to hold the bag on the loans they push students/parents into.
I always go back to this simple concept:
“Who hired the money?”
If we re-set the student loan problem about half of the colleges in the country would go out of business tomorrow.
That’s not a bad thing.
The smart colleges have been building up their endowments; they know the end is nigh.
The GI Bill has been around for a long, long time. It is a way to get the federal government to pay for a college education (or a trade school education).
I would not object to someone who finds themself in way over their head in student debt either getting some of that debt paid off via new legislation that says if they go in the military or the Peace Corp or some other public service position for say ten to fifteen years.
Another thought is that some college courses or even trade school courses are not worth taking. I also believe that for some people the most seemingly bizarre course can be very valuable. One of the courses that Steve Jobs took that had a profound impact on Apple Computer was a course on calligraphy.
Still some courses in women's studies, or 12th Century Comparative Art History may not be worth the tuition dollars and debt. Going to college to stay out drinking until 2 AM in the morning while sleeping through classes is not a good expenditure of tuition.
I think that universities need to exhibit a bit more “tough love” toward the students to borrow huge amounts of money. Some counseling on not only what electives to take, but can they pay off the loans they are incurring is warranted. I understand that if you walk into a car dealership they will try to sell you the most expensive model they can, but college/universities should be a little more about “educating” the person so they become a “success.”