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College is wasted on the many. Quite a few students go through high school working hard to not learn anything and not take any responsibility, and to not pay any of their own expenses. Those same students would float through a free college, working hard to not learn anything, to not take any responsibility, and to not pay for their own living expenses.
You'd end up with hundreds of thousands of "graduates", who hadn't learned anything useful, out there whining that their college degree hasn't landed them a high paying job where they don't have to work hard or take any responsibility for anything.
There are people graduating from high school who can't read or write or do any math. What is the point of giving those people a free ride through four years of college?
A good college can be "free" right now for the student who really wants college and is willing to work hard enough in high school to qualify for scholarships. It's not actually hard to get the sort of grades in high school that earn a juicy scholarship, but it does involve doing the studying and learning the lessons. Since the lessons tend to b be geared to the lowest denominator, it isn't all that challenging to get better grades than the kid who smokes away his time instead of doing any homework.
You have this completely backwards. The banks loan the money with almost zero risk because the education loans are almost impossible to discharge in bankruptcy, just like the Federal education loans.
100% correct
The banks will give you the money 'with no plan, limited prospects, ect,' because the banks have no risk. They can garnish your mom's SS if she cosigned and the loans are unpaid.
This is easily fixed by making bank ed loans subject to bankruptcy. It used to be only Federal ed loans could not be discharged. In the early 2000s the US Congress passed some laws that made non-Federal loans subject to the same rules as Federal loans and that is why there are so many people buried with education debt.
I’ve often argued on here for making the bankruptcy laws better (in my opinion) by allowing people to get out from under student loan debt after certain time and conditions have been met.
I get that you can’t reclaim an education from someone, but you also can’t reclaim the dinners, vacation, entertainment, ect that people rack up everyday on credit cards and walk away from either. We also allow business owners who fail to have bankruptcy relief. Why not people who “fail” at gaining career traction after college? The idea of punishing a student for decades, is something we specifically try and get rid of in other areas of bankruptcy by offering a “fresh start”.
It’s just yet another area where the system is broken and rotten.
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A college degree is only worth what you do with it, and not a magic key to a high paying job. There are in fact many good jobs that pay well without a degree, some not even requiring trade school. For example, Longshoreman, paying close to $100:Proficient with operating tractors, forklifts and cranes. Completion of physical examination. Ability to speak, write and read basic English. Ability to work with minimal supervision, and to follow instructions and procedures.
Not free, but we made college affordable for the Baby Boomers through huge government subsidies. There is no reason we couldn't make a big dent now through similar practices to those prior generations benefitted from.
Where did you get that impression.
There are a couple of factors that have driven up costs - demand and easily available student loans. More look to get degrees which drives up demand which drives up price - simple supply and demand. Also it was not subsidies but lack of subsidies in the form of student loans that made Universities more efficient and lower costs in the 70s and 80s.
I’ve often argued on here for making the bankruptcy laws better (in my opinion) by allowing people to get out from under student loan debt after certain time and conditions have been met.
I get that you can’t reclaim an education from someone, but you also can’t reclaim the dinners, vacation, entertainment, ect that people rack up everyday on credit cards and walk away from either. We also allow business owners who fail to have bankruptcy relief. Why not people who “fail” at gaining career traction after college? The idea of punishing a student for decades, is something we specifically try and get rid of in other areas of bankruptcy by offering a “fresh start”.
It’s just yet another area where the system is broken and rotten.
So true.
The law changed in 2005. This was not just about the banks, it was a way to get more funding to colleges/universities at a time when the Federal govt/States were cutting off public aid, especially at the state level. The banks got the miracle of guaranteed loans (F U, pay me) from a huge market they would never loan money to and they got to charge ridiculous interest over what the money cost. The schools got all the money to fund the campuses.
There are a couple of factors that have driven up costs - demand and easily available student loans. More look to get degrees which drives up demand which drives up price - simple supply and demand. Also it was not subsidies but lack of subsidies in the form of student loans that made Universities more efficient and lower costs in the 70s and 80s.
The community college system has more than enough capacity to accommodate every student in the country that wants to go to college. More than enough, given they have seen 15%+ enrollment declines over the past 5-7 years.
If you want college free, we already have the infrastructure for it, and it's already low overhead. Tennessee has the most famous program and a number of other states have followed its lead and already have free CC for their high school grads, but those grads have to follow their template to the letter to keep it free. Personally I feel they should make it free for all adults.
Oh but it's not the fancy college you wanted with the stereotypical experience? Sorry, can't always get what you want. I'm a big believer in the 4-year college experience being worth it, but it's not free.
Why would that person want it? How would this be better for society? Statistically, only certain people will go to college. Above the normal. That is after high school.
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