Did you tink doze checks you was gettin' were comin' from da tooth fairy?
We could work it out dat way if youse really want to.
$200k? Dude did higher education wrong.
It is a zero-sum game. If the student does not repay the debt, taxpayers ultimately do. It’s that simple. Take your pick.
Ether the responsibility lands on the shoulders of those who either wisely or unwisely pursued a particular course of education, or it falls on the backs of fellow citizens who had nothing to do with the decision made by the student. The benefit of the education is some increment of enhanced personal capital of the student. The benefit does not spill over to fellow citizens and taxpayers. The cost and the benefit of these loans should be very specifically localized on the student borrower and no one else.
I want this guy to do my taxes & come up w/ a huge refund! Why would he write this & out himself as not too swift?????
Did you tink doze checks you was gettin' were comin' from da tooth fairy?
We could work it out dat way if youse really want to.
I swear they almost forced my granddaughter to take a loan. You get preferential treatment if you have an account with Wells Fargo and you get a credit card and hey, they just give you money to put in your account, They were shocked when she refused and told her how she didn’t have to pay it back until she graduated.
My eldest granddaughter is in her last semester with absolutely no debt. The two who are sophomores are also debt free thanks to scholarships, parents and grandparents.
As with most crises the government in primarily responsible and the following story to illustrate this point. Colleges applying for participation in federal programs each year prepare sets of student budgets. These then appear in student award letters. The Department of Education when analyzing the student and family data provide an expected family contribution. The difference between the budget and expected family contribution the college then attempts to fill up with awards of grants and loans. In most cases, at least for privates, there remains an unmet need. However, students still successfully complete the school year. I analyzed this figure annually to hold financial aid people accountable for adopting standard for awards which took into account reasonable measures (they did not think so) of this unmet need for the next year.
During my time the feds enacted as tax benefits American Opportunity Credit and Lifetime Learning Credit that were supposedly of direct benefit to the student and their parents. I plugged those into the figures for unmet need to require greater average contributions and lesser awards by the college. I made sure the student and their parents were conduits for and not recipients of the majority of these tax benefits. Of course the result was the same or increased pressure to borrow for education or use more income and savings.
This story illustrates how financial people have behaved ever since the feds started throwing money at colleges. Similar information has always been part of the pervasive public knowledge available for Pell, SEOG, GSL, etc. There was always any number of professionals who were available to testify concerning the inevitable consequences of these programs.
Such individuals were ignored and/or never given a forum. The programs were just too attractive to assist in reelection. I would propose the Law of Premeditated Ignorance accounts for this phenomenon much more accurately than the Law of Unintended Consequences that is usually proposed to evade responsibility for obviously stupid actions.
Federal Student Aid and the Law of Unintended Consequences
http://www.capoliticalreview.com/top-stories/federal-student-aid-and-the-law-of-unintended-consequences/
Student loan subsidies blamed for nearly all college tuition increases
http://www.americanthinker.com/blog/2015/12/student_loan_subsidies_blamed_for_nearly_all_college_tuition_increases.html#ixzz3v4icBMmf
This guy is too stupid, weaselly and/or irresponsible to be any kind of ethicist. At least Wesleyan was smart enough to turn him down.
UW-Madison is a better, more highly ranked and regarded school than CT College, too. I take it they turned him down as well?
Yet he and his parents, signing all the loan docs each semester, didn’t know what they were getting him into? And he chose to major in music performance along the way? Then by grad school, coming from a third-tier college, he was taking on that further amount of debt in hopes of a high-paying academic career?
lemmee see if I got this straight...
person has a masters degree yet cannot add or subtract..
person has a masters degree yet cannot read what he or she is signing yet signs it anyway....
person has a masters degree in a useless subject that virtually guarantees little to no employment...
conclusion: person with a masters degree is an idiot and should be made to pay back every penny wasted on this endeavor...
So he ran up $200,000 in loans, didn’t pay enough attention to realize it, and now it’s everyone’s fault but his?
Maybe he’s a victim of his credit card debt too.
Well, there's your problem right there.
See, this is why I write off Free Republic on my income taxes as Therapy / Medical Expense.
I read an article like this, and all the replies calm down my blood pressure.
If the government would get out of the way the free markets would sort this out quickly. Right now, for many colleges and many majors the return on investment is negative. Those colleges and majors would cease to exist.
An example: My daughter switched from an English major to a Technical Writing major. If she had remained an English major she would likely be unemployed. As a Technical Writer she is making a nice income with a software company.
There is nothing that justifies the tuition at the elite schools. Heck, there is nothing that justifies the tuition at the state universities. A good education should be easy to deliver and should be inexpensive. The universities carry huge financial baggage to fund their bureaucracy, the PC mentality and the “Studies” departments.
a really good debt ridden bioethisist is a dead bioethesist
the world doesn’t need and there is no demand for bioethisists
