college loans (bankruptcy, student loan, debt, companies)
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I see Obama did at least something about it, including ditching the give away loan guarantees. How does one get a loan guarantee racket like that? I collect interest, but I can't lose. I'll charter my own bank for that. What's the bank doing for us again?
Even better is this idea of capital risk as if modern labor does not take on risk. So basically 100k spend on education and opportunity cost loses will be a high tax because its such a shoe in, but 100k "at risk" in the form of capital needs special consideration. Even worse is college loans do not have bankruptcy protection. So basically college is a high tax investment with enormous risk. Perhaps worse still is what people are getting in education. MBAs still don't see education as capital spending.....?Ever think perhaps a capitalist gave you, the future worker the text book?
An all time favorite misdirection of public vs private. The pseudo right winger who is really nothing but a scam artist will sing the praises of private enterprise. Private enterprise needs to be defined as money spent, not money earned. When public money is spent on private enterprise, its the worst of everything. If it comes from a public budget, the sooner its functions are public the better. If its private, then as little public money as possible should be used to fund it especially when its inherently monopolistic. Here is a hierarchy of efficiency.
1. private to private business.
2. public works and regulated monopolies.
3. public to private.
#3 often tries to masquerade as #1. The typical brain dead republican always looks at #2 as is that is the main source of waste completely missing public money spent on private companies who are the ones in control of the republican party... and the democratic party. Can you say Halliburton?
normally i would say, let the states deal with it. However I wonder if having such a direct connection from the printing press to the universities is actually a benefit to the country.
normally i would say, let the states deal with it. However I wonder if having such a direct connection from the printing press to the universities is actually a benefit to the country.
That is a good question. How do we fund it without turning into a bidding war? At least the interest on the debt would be recycled into the state for a state charted bank. Some societies don't even make their students pay at all. However that is vulnerable to "brain drain". I would certainly entertain any ideas.
normally i would say, let the states deal with it. However I wonder if having such a direct connection from the printing press to the universities is actually a benefit to the country.
Not every education is equal, and not every student loan should have the same rate. You want to go to a top 20 school majoring in economics, computer science, or engineering? Give that person a 3% interest rate. You want to go to a low-ranked state school majoring in art history? Give an 18% interest rate. Manage the risk associated with school loans. Students need to think about the debt before going to school. College is not something everyone should attend, unless they feel they can get a monetary return from it.
Not every education is equal, and not every student loan should have the same rate. You want to go to a top 20 school majoring in economics, computer science, or engineering? Give that person a 3% interest rate. You want to go to a low-ranked state school majoring in art history? Give an 18% interest rate. Manage the risk associated with school loans. Students need to think about the debt before going to school. College is not something everyone should attend, unless they feel they can get a monetary return from it.
Projections of payback periods based on post-graduation salaries using statistical forecast models.
Simple mathematical risk management.
i wouldn't call that simple. you're relying on the modeler to produce a mathematical model that represents real-world phenomenon, and you're relying on the people who managing the input data to do so correctly. Every model bears the assumptions and flaws of the modeler.
who lends the money? private banks? the government?
Projections of payback periods based on post-graduation salaries using statistical forecast models.
Simple mathematical risk management.
Very funny. My ex-neighbor graduated with a PhD in art history and got three or four job offers. Her husband, a chem engineer (Worcester Polytech) in his thirties, got laid off from a good job and has not been able to find another in his field for over two years. He is working at a local brewery. The son of a student of mine just graduated with a fine arts degree and immediately got a tech job at a TV station, many of his fellow grads are out of work. So much for such theories.
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