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The best way to make college better is construct more obstacles to keep unqualified people from attending. There used to be standards for attending college. Now anyone can get in if they can sign a loan agreement.
Everyone can get IN the door but less than 50% actually make it to the exit with a degree in hand.
Everyone can get IN the door but less than 50% actually make it to the exit with a degree in hand.
That is the problem. They flunk out without a degree or a marketable skill, but still have to repay or default on the "free money" they got from a loan.
There is a predetermined path too many parents have set for their children.
Let me put it this way- it is ok if you kid wants to go into the trades.
That predetermined path has been put in everyone's head.
It's sacrilege to even mention in K-12 about not going to college.
"Going to college" is used in K-12 as a statement of fact.
That is the problem. They flunk out without a degree or a marketable skill, but still have to repay or default on the "free money" they got from a loan.
Bingo. These are your burger flippers with student loans.
20 million entered college last year. Less than 50% will graduate.
So you have over 10 million dropping out from each entering group of college students.
Bingo. These are your burger flippers with student loans.
20 million entered college last year. Less than 50% will graduate.
So you have over 10 million dropping out from each entering group of college students.
They should have been denied entry in the first place. When I went to college, most that flunked out did so the first year when they decided to do something else with their life or their parents did the right thing and pulled them out of school by refusing to pay when they saw their grades.
Switching to an income based repayment plan is how the administration is dealing with default rates which are trending upward.
But that just drags out the loan and puts the US deeper in debt for a longer time.
They aren't fixing anything here...just providing a bandaid to curtail the default rate.
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