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Yes, but the U systems don't want to be clear about how fruitless their overpriced subsidized sub-standard results really are.
So, you're saying you would prefer all colleges to be government run? Only an entity managed by the government could survive turning a constant loss. In fact, at this point, I believe it's mandatory for all government programs to lose as much money as possible.
How else could a college exist if it doesn't turn a profit... even if it's a non-prof?
It would remove all competition, and our higher learning future would be effectively dead.
I believe the government subsidies to universities should be illegal. If a school can't turn a profit, it's educational results are more than likely poor. Well managed businesses offering a good product are the ones that tend to survive.
That isn't how non-profit colleges function, also non-profit doesn't mean government run, though I personally prefer state colleges over private colleges.
If a school can't turn a profit, it's educational results are more than likely poor.
I think you are conflating business which has a profit motive and education in which far different metrics determine success.
You'd be hardpressed to argue the educational results of the Ivy League schools-- or numerous other top-tier schools-- are better than the University of Phoenix. For profit schools are actually rare.
This bill should go nowhere. While her intentions are good, there are way too many variables to make the data accurate.
One of the components of the bill is for colleges to report Post-graduation average annual earnings. That is only as good as the number of students who actually bother to report.
Another component is: Average cost (both before and after financial aid) of the program and average debt
accumulated;
Thats what a financial aid letter accomplishes. Schools are very clear on what you are expected to pay. The problem is parents dont say no when their kid "has" to go to a school which is totally not affordable! No one, should ever take out 80k in loans for an undergraduate degree, that is just stupid. Some kids should go to CC for two years, then transfer in order to keep their costs down, but no one wants to do that. Federal loans are capped around 28k for loans in the students name. So if the kid mentioned in the article had 80k in loans, then his parents had to cosign for him with private loans, and that was stupid on their part.
This bill should go nowhere. While her intentions are good, there are way too many variables to make the data accurate.
One of the components of the bill is for colleges to report Post-graduation average annual earnings. That is only as good as the number of students who actually bother to report.
Another component is: Average cost (both before and after financial aid) of the program and average debt
accumulated;
Thats what a financial aid letter accomplishes. Schools are very clear on what you are expected to pay. The problem is parents dont say no when their kid "has" to go to a school which is totally not affordable! No one, should ever take out 80k in loans for an undergraduate degree, that is just stupid. Some kids should go to CC for two years, then transfer in order to keep their costs down, but no one wants to do that. Federal loans are capped around 28k for loans in the students name. So if the kid mentioned in the article had 80k in loans, then his parents had to cosign for him with private loans, and that was stupid on their part.
Ummm, no.
I was the first kid in my family to go to college and didn't have a clue about the cost. I was able to get loans, including a Stafford loan and other loans directly from my university, without any parent co-signing for me.
I could have really used some information about the amount of debt I was assuming, and there simply wasn't anyone in my family who had the knowledge about it to inform me and caution me about attending a private school. My high school guidance counselor was worthless.
It all worked out in the end I guess because I graduated from college, then joined the military, and ultimately was able to use the GI bill to get an advanced degree. However, I still have a large amount of debt from my undergraduate days that will stay with me for a very long time. Had I realized and appreciated the difference between attending a private school and going to the state college, things would be different.
Yes, I should have figured it out on my own. But the truth is that 17 year old kids really don't understand what it means to have $100,000 worth of student loan debt.
Mia Love is doing a good thing here in my opinion.
My general take is that we're in an education bubble. Unless a kid has an insanely strong aptitude and interest in a specific subject that's best served by one of the better universities, I'd be highly tempted to spend the money on something completely different just to avoid the crowd. I admit the idea of an MFA, and learning for learning's sake, sounds like an OK plan, but there probably are better ways to learning painting and sculpting anyway.
An awful lot of the system is set up to produce a generation of cubicle drones.
Higher education is going to go through a massive renovation in principle and practice over the decade or so. Considering the pending introduction of robots into everyday living and work, college degrees are going to become less useful. Law Prof. Glenn Reynolds, U/Tenn @ InstaPundit has a book and an ongoing reference to problems facing the university system today.
Unless it's STEM, many of those we see as grandkids today are going to need something other than a college degree. Hopefully it won't be welfare. A computer language coder may become as common as your local electrician or plumber.
What is this bill about? Not something I have heard of or follow, some context on it would be nice, but in general it would be nice to know how much in debt a degree is gonna get you before starting college. Though I also think for profit colleges should basically be illegal or come with a warning.
I read the article and I have the same question. I didn't see any bones, let alone meat to this bill.
Quote:
Originally Posted by Trace21230
Ummm, no.
I was the first kid in my family to go to college and didn't have a clue about the cost. I was able to get loans, including a Stafford loan and other loans directly from my university, without any parent co-signing for me.
I could have really used some information about the amount of debt I was assuming, and there simply wasn't anyone in my family who had the knowledge about it to inform me and caution me about attending a private school. My high school guidance counselor was worthless.
It all worked out in the end I guess because I graduated from college, then joined the military, and ultimately was able to use the GI bill to get an advanced degree. However, I still have a large amount of debt from my undergraduate days that will stay with me for a very long time. Had I realized and appreciated the difference between attending a private school and going to the state college, things would be different.
Yes, I should have figured it out on my own. But the truth is that 17 year old kids really don't understand what it means to have $100,000 worth of student loan debt.
Mia Love is doing a good thing here in my opinion.
Isn't that what guidance counselors are for? Plus, i hate to be negative, but most colleges clearly state their costs.
For profits are one thing and they need to be regulated out of existence IMO. Legitimate public and private school all state their estimated costs for 4 year attendance in their literature and on their websites. These even include the averages for spending money and soft costs.
As to the issue of "Is this major going to lead to a job", that's on the student. They have 2 years on campus before they declare a major. They have access to advisors, placement materials and career centers. Those are the places that can and do help students figure out this question. But, the reality is that few students take advantage of the information easily at hand.
Finally, every time I've borrowed money for anything, I am given paperwork that very clearly states how, when and at what rate I will be paying it back. Are student loans handled differently? I think not. The information is there, but few seem to be paying attention.
There is certainly a disconnect in all this. Schools and lenders are providing information and help and students are still stunned when they find out they actually have to pay for their educations and what it all cost. Maybe schools should start making all freshmen take 1 hour seminar on what their education will cost and have to sign something saying they took the course and stating they understand what they're doing.
Simply allow people to bankruptcy their way out of a student loan. Hilarity ensues.
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