Posted on 06/01/2014 2:32:22 PM PDT by Libloather
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For starters, state universities should not divert income from tuition payments into their general fund. Such monies should go into the operating expenses of the universities. As greed for that tuition money goes up, the students are saddled with increasing debt that outweighs any income advantage that their degree gives them.
Good to know that the not for profit schools are not loading up students with debt and find all of them jobs when they graduate.
Sorry, I left reality there for a minute. Back now.
They're making money, too.
That pretty much describes every social science college in the United States. Does anyone think they will question the $160,000 in tuition/room/board that public universities get in exchange for handing out degrees in feminist studies and other nonsense?
Most of the leftists I know hate Kaplan University and University of Phoenix and any other place that is not a haven for leftist thought. Sounds like Hussein is paying back his base.
If the estimated annual loan payment is not to exceed 20 percent of students' 'discretionary' earnings, does this mean that there will be stricter qualification for loan amounts? What is discretionary? What if a student decides to marry and become a homemaker and has no personal income? What about students who become professional students? Will universities become collection agencies for the federal government? How does this replace personal responsibility for not researching a career path and/or taking a loan in the first place? And lastly, how much did Obama pay for his education and can he get a refund?
It wouldn't be a problem if the gov would get out of the student loan business. Then, if these colleges gave the students a payment plan they'd be more accountable for turning out employable students.....if they wanted their money back.
Instead, Obama wants the feds to choose the winners and losers in the college game. And what about state colleges and universities who take a percentage of students (and their loan money) knowing full well they aren't qualified for college?
The problem is that too many students go to college. The enabler is the federal gov.
Better to have the colleges in deep debt so government can bail them out whereby they tell what those colleges can or cannot teach. And how to.
“It’s decision time for the Obama administration on a major rule designed to crack down on colleges that saddle students with a mountain of debt without preparing them for the job market.”
So the adults that sign up for these loans voluntarily, and take these classes voluntarily is totally lost on these idiots?
I think student loans should be regulated more heavily, in the sense of making them comply with NORMAL rules for loans - collateral, expectation of payment, default rates, bankruptcy, etc. Many of the places giving loans would shut down ASAP if they had to show WHY they expected someone with C grades in high school to pass an RN program, or why they think loaning someone $100K for feminist studies was a good idea.
And if former students could get rid of their debt using standard bankruptcy, then many loan agencies would again shut down.
Once the money spigot was turned off, all universities would have to become realistic about their cost structure.
“Most of the leftists I know hate Kaplan University and University of Phoenix and any other place that is not a haven for leftist thought. Sounds like Hussein is paying back his base.”
The online places have to be watched because some are simply diploma mills to drive up the earnings of public school teachers; under their work rules they get thousands upon thousands in pay increases for additional degrees (regardless of need or subject matter), and some schools and teachers have been caught in the scam. The teachers do no real course work, receive the degree and accompanying wage increases, and happily part with thousands of dollars (a fraction of their first year’s raise) for the “diploma”...
“So the adults that sign up for these loans voluntarily, and take these classes voluntarily is totally lost on these idiots?”
How many 18 year old adults are prepared to make decisions affecting their finances for the next 30 years? As a parent, I can refuse to loan them money or to co-sign a loan. But I cannot prevent an 18 or 19 year old from taking out a loan on their own, without telling me.
My son did that. In his case, he borrowed about $30K, did not pass, and then spent a year in Iraq to make the money to pay off his debt right away. It was a good life lesson, but not one I think should be encouraged by government policy.
Anything Obama proposes is wrong. However I did note this statement “Second, the default rate on loans taken out by former students must not exceed 30 percent.”
30%?? Why would anyone loan money at such a high rate and why would anyone accept such a ridiculous loan? Not sure why the feds have to police it but anyone dishing out 30% loans needs to have their ass kicked
“So the adults that sign up for these loans voluntarily, and take these classes voluntarily is totally lost on these idiots?”
I’m all for holding people accountable for their actions, but the amount of misinformation and outright lies swirling about make it nearly impossible to make a truly informed decision. Our government can’t be honest with people about how bleak the future is for many Americans because they would have a revolution; they maintain the illusion that higher education will provide everyone with a worthwhile job to obscure the reality while keeping the education industry employed. In fact, there just isn’t enough work left for many Americans, and that won’t be changing any time soon without massive decreases in taxation and regulation.
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