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Schools have no incentive to lower tuition costs because to government directly interferes in the education business by providing unlimited capital with no collateral. What benefit is it for a school to lower their tuition costs if they are guaranteed payment?
If you want tuition to go down, take the government out of the education business. The government should not be subsidizing loans, especially with artificially low interest rates. Then schools would actually have to RUN LIKE A BUSINESS in order to attract students which means, they will have to cut costs and eliminate waste because the environment will become increasingly more competitive.
Instead, you have imbeciles like Bernie Sanders who are promising free education. And of course, young people will eat this up because they actually believe that some things in life are free.
Schools have no incentive to lower tuition costs because to government directly interferes in the education business by providing unlimited capital with no collateral. What benefit is it for a school to lower their tuition costs if they are guaranteed payment?
If you want tuition to go down, take the government out of the education business. The government should not be subsidizing loans, especially with artificially low interest rates. Then schools would actually have to RUN LIKE A BUSINESS in order to attract students which means, they will have to cut costs and eliminate waste to attract students considering because the environment will become increasingly more competitive.
Instead, you have imbeciles like Bernie Sanders who are promising free education. And of course, young people will eat this up because they actually believe that some things in life are free.
Sander's free tuition program applies to State and City systems (not private) which mimics the successful program in Germany. Of course the key characteristic of the German program is that it truly tries to prepare students for a real-life career.
In general, government should not be subsidizing private industry but it seems that that is all it's doing nowadays.
If you want to alienate me as a voter and donor, forgive student loan debt. If student loans end up forgiven I will never donate another dime to my alma mater. I busted my ass to pay off my student loans. There’s nothing in this life that is free. The sooner these young punks figure that out, the better off they will be. I guess I’m just another angry white male get off my lawn type that has come full circle.
If you want to alienate me as a voter and donor, forgive student loan debt. If student loans end up forgiven I will never donate another dime to my alma mater. I busted my ass to pay off my student loans. There’s nothing in this life that is free. The sooner these young punks figure that out, the better off they will be. I guess I’m just another angry white male get off my lawn type that has come full circle.
Read the article. This is not about forgiving student loan debt in general but in forgiving student loan debt where the "schools" in question were nothing but scammers. Currently, individuals have to prove each case separately but an advocacy group is trying to make it a class action against specific schools that have been investigated and found to have actually committed fraud. These are inevitably for-profit "schools". The Corinthian schools went bankrupt after the feds refused to allow them to continue to participate in federal student loan programs. ITT is another school under investigation.
Read the article. This is not about forgiving student loan debt in general but in forgiving student loan debt where the "schools" in question were nothing but scammers. Currently, individuals have to prove each case separately but an advocacy group is trying to make it a class action against specific schools that have been investigated and found to have actually committed fraud. These are inevitably for-profit "schools". The Corinthian schools went bankrupt after the feds refused to allow them to continue to participate in federal student loan programs. ITT is another school under investigation.
The scam works both ways. There's not shortage of weak minded fools that can't reason, read or exercise critical thinking skills. They scam themselves into basically adult day care like the invalids they are. There's also no shortage of student loan crybabies that went to schools that are not under scrutiny.
"Americans are flooding the government with appeals to have their student loans forgiven on the grounds that schools deceived them with false promises of a well-paying career—part of a growing protest against years of surging college costs."
Ha ha ha. Special little snowflakes. If the government means taxpayers, of which I am one, good luck with this.
No. Bubble. Loan out too much on something, it becomes over priced, the debt goes bad, the value drops. Part of a bubble is paying more than something is worth for it.
After the 2008 market crisis everyone was encouraged to go get more education. They needed to write new loans for something and you had people out of work and retraining them looked good. But a reasonable look at the macro economic picture then (and now) is for long term low slow economic growth on the high side and Great Depression sized unemployment on the low side. In short you can't say with confidence that more education will get you a better future. You could say that more loans written on anything back in 2009 was good for a macro economic point of view if you were trying to stop the debt bubble from popping.
They were told it would get them a better job, but why they were told it was that we needed more debt written to stop the debt bubble imploding not because they would get a better job out of the deal. Their wasn't a better job in the deal for a lot of people and the people setting public policy new it, and didn't care that the people taking on the debt were getting screwed for their effort. So More QE. Up the debt limit, issue more T-bills, take the cash, pay off those loans. Turn the debt into cash in the economy.
Bottom up bailout before the crisis gets here. The top had their turn last time, this time it is the bottoms turn for free cash.
more fuel for the debt fire. a water-logged tree burns if the fire is hot enough.
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