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If the government refuses to do away with the student loan system, they should stop backing them and require the universities to back them.
I wouldn't go that far, but the percentage of student loans at each university not paid up to date should significantly influence a surcharge I'd love to see applied to current future loans (vary it by school, by experience rate). Universities need to have a vested interest in the ability of prior graduating classes ability to pay up.
Maybe if state governments funded public universities and colleges at the same levels that they funded them in the 1960s and 1970s, then tuition wouldn't be so high, and there would be less need for student loans. When I attended a SUNY school in the late 1960s-1970s, the really low tuition only went to fund dormitories. The state provided 100% funding for its state colleges and universities. Since the CUNY system didn't have dorms, they had no tuition. Most other state universities/colleges had tuition that were pittances because they, too, got almost all their funding from tax dollars.
Today, public colleges and universities are dependent upon tuition monies for much of their operating revenues. In other words, the education cost burden has been shifted from the states to the students... and now some of you cretins think depriving students of the means to pay for their education would be a good thing for them and the US.
I think kids should be working first to discover what it is they want to do before gong to some special effort that may not pay off.
Rarely has any one ended up with the job their degree was aims at.
Do you think the United States should do away with government-provided student loans and invest the money in something more substantial, like a job creation program?
Yes, government should get out of student loans for college. It should prohibit any student loans for college.
Quote:
Originally Posted by kmb501
Instead of allowing all of this free-for-all spending or putting tighter regulation on where the money goes and creating more problems for students who legitimately need government assistance to attend college
I disagree, the government should stop means testing. Any grant should be the same for all. No need to prove poverty. All should have access as we do with primary education.
Means testing divides us, and squanders resources trying to determine who is needy. The overhead lost is not spent helping students, but instead helps government bureaucrats.
The government intervention with these student loans created one of the biggest scams on our young ever! Now our kids start life with massive debt. Thanks US government! Of course this is what the powerful people want. They want everyone i debt so they can collect from all at all times. Nothing like robbing these young folks of a chance to buy a home or make it in life. Slaves to debt right out of the gate. A pound of flesh is what they want from everyone.
Maybe the government should provide free education beyond college for undergrad degrees,and raise taxes to do it.
With no degrees,how are we going to compete with China and India?
The United States has allowed a fraud to be committed against its citizens by the current program. They have enabled schools to provide worthless programs and prevented citizens from accurate timely job opportunities information. So now we have a mass of well meaning young persons with heavy student debt without financially meaningful jobs. The government should be able to do so much better.
Stop using bonds to get young people into debt. Instead, use stocks.
Rather than charging the students interest, charge them a percentage of future earnings. Then you won't see so many schools eager to create crap degrees that are completely worthless to employers. When the school is only offered a percent of the students earnings, they will not create programs that are useless and then deceive students into paying tens of thousands of dollars to "study" them.
The school is being paid to provide an education. They should be held to the standards of "agency", which means working in the student's best interest. However, they are paid regardless of the success or failure of the student. By aligning their goals so that both are paid in accordance with the income of the student, the schools would have a vastly different agenda. Note that if someone contracted as an "agent" performed as the schools are performing, they would be sued for their previous compensation and face criminal litigation.
School LOANS were never the solution because they incentivize (yes that's a word) the schools to raise tuition and offer more kegs (indirectly, by funding frat) to students that were too stupid to understand the contracts they were signing.
Since student loans allow colleges to jack up tuition year after year, the option of saving up and paying in cash is almost impractical for most. Thank your government!
Your comment made me think of something. I think that there should be a 'locked in rate' for tuition. For example, if I attend a college and that year it's 12k for that entire year, that is what I should pay until I complete my degree.
I wouldn't go that far, but the percentage of student loans at each university not paid up to date should significantly influence a surcharge I'd love to see applied to current future loans (vary it by school, by experience rate). Universities need to have a vested interest in the ability of prior graduating classes ability to pay up.
This is also a very intelligent idea and may be another viable method.
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