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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?
They Should:
Student loans, even federal loans as I've found out, are not really the best option for a poor working college student. They charge close to seven percent interest and can be a small nightmare to pay back if your chosen field isn't paying enough to get a return on your investment. Plus, even well-meaning students can abuse their student loans accidentally via making purchases that are not approved by financial aid but are still needed, in some way or another, to successfully complete his or her program. For instance, financial aid will not cover trips to study abroad, even though a study abroad experience is recommended for foreign language majors. Financial aid will also not cover car repairs, even though some students rely on their cars to get to coops, internships, and classes and do not have other options. Don't even get me started on housing. The prices have rose exponentially. Sorry, but the way I see it there are too many ways for even a well-meaning student to abuse the system. There are no budget standards to follow; the student doesn't have to prove that is being used toward fulfillment of academic requirements, and there are loop holes that make so-called "unreasonable" purchases seem justifiable. Why did the student charge ten boxes of pizza to his or her financial aid account last Saturday night? The student was having a cramming party, and everyone got hungry.
Alternative:
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, the government should step out of the student loan business and get back to providing grants, ready-to-work programs, and job creation programs. A stronger economy for all would mean more money for students and every working American.
They Should Not:
Student loans are a life saver for poor college students. Without loans to help ease the burden, many students would not even be able to afford college. There is a solution to student loan abuse; don't give the kids access to more money than they need, period, and, by all means, don't actually give the kid the money. Instead, provide vouchers for the proven amount that the student needs. For instance, the student may need a laptop computer in order to productively attend class. The student loan disbursement should provide a voucher for the student to purchase a reasonably priced laptop. If the student has special circumstances and needs housing, financial aid and the college should work with the student to provide decent on-campus or off-campus housing with a roommate to off-set costs. Financial aid could then cover only the required expenses. If the student needs food, financial aid could determine what items may be necessary for the student, and the student could receive a voucher to buy only those items. Colleges could also provide reduced-price meal plans. Students should be required to keep a list of all of their expenses and be taught budgeting and ways to off-set costs.
Alternative:
Poor students who didn't get a scholarship should be steered toward training for an in-demand trade that meets their skillset, if possible. Financial need assessment should take into account what the student is doing to better himself or herself.
They should certainly have more available grants. While I won't say that student loans never work out well, I do think our society has become too dependent on them.
One possible solution which I would support 100% would be to have the government automatically "defer" a portion of the tax benefits of having children to when they graduate high school (the parents would not be allowed to touch the money) and then have that money available for the qualified higher education expenses.
Another idea I might support is to have the federal government threaten to take away some matching funds from states if they cut college and university appropriations below a certain level.
Yes, we should get rid of student loans and have public university-level education provided to students for free or very low cost - assuming they meet certain threshold academic requirements - just like in most of the rest of the first-world.
Doing so would allow us to clamp down on costs, as neither private or public loans systems would naturally limit costs. Why? Simple: getting any decent job requires a college degree and so people will pay more and more outrageous prices because they believe (reasonably) that they have no other options. Conversely, a system in which costs (administration, salaries, buildings, technology) are controlled could actually work. Sortof how college education in all of "Socialist" Europe is much cheaper in overall costs (i.e. the total tax expenditures on all of higher education) despite providing similarly prepared graduates.
But that would require more taxes to implement, and because of the blind allegiance to the glories of the free market in the U.S. it will probably not happen any time soon. You know, just like healthcare.
Yes, we should get rid of student loans and have public university-level education provided to students for free or very low cost - assuming they meet certain threshold academic requirements - just like in most of the rest of the first-world.
I always love how liberals say "blah blah blah ...like in most of the rest of the first-world." You mean those other broke places? It's fascinating how "every other developed nation" has certain policies and yet liberals just really really really want to live here in America, isn't it? The country that they constantly whine about being the worst place to live, with horrible health-care, no welfare system, rampant capitalism, totally racist ...but they call it home! LOL. It's so easy to see them lying like crazy.
Ah ah ah, lycos. Not so fast. Can you post the data for how much we spend nationally on all levels on education?
Confirmation bias scores again. You the out a pair of relevant data points showing that in fact state spending deceased while tuition and fees have gone up. Sure at this same time there has been public lands but to claim public lands alone have cause college costs to go up is insane.
Personally we need to push to more skilled labor. Like it or not, when the skilled boomers in the trades exit, we won't have enough manpower to replace plumbers, electricians and machinists. What we have done is instead produced knowledge workers who do not know how to poor cut our wire a house. We need to be more accepting of the trades and less insistent on college. The issue is for a few years, we will be behind in the labor replacement of skilled trades with boomers slowly starting to retire.
Still don't know how to use that term, huh? By the way, you should look at the graphs he posted. I think neither you nor he knows what they actually mean. Maybe if you put your heads together you might figure it out.
Still don't know how to use that term, huh? By the way, you should look at the graphs he posted. I think neither you nor he knows what they actually mean. Maybe if you put your heads together you might figure it out.
No I do and maybe if you didn't throw ad hominem attacks after you neglect data that rejects your hypothesis, people would actually listen to you.
I always love how liberals say "blah blah blah ...like in most of the rest of the first-world." You mean those other broke places? It's fascinating how "every other developed nation" has certain policies and yet liberals just really really really want to live here in America, isn't it? The country that they constantly whine about being the worst place to live, with horrible health-care, no welfare system, rampant capitalism, totally racist ...but they call it home! LOL. It's so easy to see them lying like crazy.
Not only that, but even in Europe, higher taxes are positively correlated with lower debt, right?
It's odd that you were talking about "debt" and then cited an article discussing "deficits." Did Penn skip the part where they discussed the difference?
Apparently not, or else you're hiding it very well.
Another ad hominem attack. Wash, rise, repeat.
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