[Cheburashka]

my thinking is, if you limit the number of degrees per year (like nursing/med schools have done for decades), then you don’t have 500,000 people with psychology degrees oweing the taxpayer $150K+ in federal student loans apiece, they likely will never repay (and in fact, may tend to be ‘professional students’).

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So how many thousands of government bureaucrats you plan to hire to decide how many psychology degrees we need per year? As well as every other kind of degree, of course.

Your solution is bound to start the Obamanation salivating. The obvious answer to any problem you can identify: A New Government Program!! More rules!! More regulations!! Then more programs, more rules, and more regulations to solve the unintended consequences of your original program!!

Um, I suggest letting the market handle it.

[blueplum]

I see your point, but we already have the system in place.

We already know to a certain degree, how many jobs total are available in just about every occupation, and how many jobs are expected to be added, based on reported forecasts of number of companies in each industry, with a fudge factor for start-ups. This info is produced at least annually. We could lose upwards of half of the govt people pushing around mountains of paperwork generated from loan renewals, add-on loans, defaults, etc. Costs of education go down, number of ‘professional students’ go down, quality of graduates increase, and more people can be educated towards occupations that are not already top-heavy and where they can actually find employment.

What other solution do we have to solve the runaway studentloan/educationcost problem, factoring the upward costpush of educational unions’ influence on a “free-market” system?