“The way to cut college costs is to cut the professor’s salaries and do away with tenure”
You are approaching this problem from the wrong side. Tenure is terrible but it exists because of the fundamental structure of financing education.
As usual, government has subsidized a product and the price has gone way up. There are few market forces in place to control college spending.
You have to take away the free flow of cash to the colleges to make them responsive. They will never change if they get subsidized student loans, government grants and alumni contributions. Why should they?
Here’s a short plan:
1. Education loans should be at market rates
2. Get the Feds out of the student loan business
3. Stop the worthless research from the Feds
4. Encourage alumni to ask for change before they donate to colleges
5. And most importantly, allow students to default on student loans
Years ago, I remember a graph showing the net worth of high school grads vs college grads over a lifetime. Obviously, the HS grads pulled ahead at the beginning, but the college grads picked up in their late 20’s and never looked back. Given the spectacular increase in college debt, I’d like to see what this graph looks like today - if any honest organization would dare to produce it.
Hard to believe, that so many college grads are starting out of the gate wearing chains that many will never escape.
I have read that kids in their early 20’s now check out their dates to see how much debt they have - sort of a “reverse dowry” effect.
6. Get the feds out of the grant business.
7. All college aid be scholarship, not need based.
i am trying to learn something. Why is it important students be allowed to default on their loans? Seems like the exact opposite of what we should want