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This might just be the end of those $200,000 gender studies degrees ..
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Washington (CNN) — The Trump administration urged Congress Monday to put a cap on student loan borrowing, one of several proposals for updating the Higher Education Act.
"We want to encourage responsible borrowing," said a senior administration official on a call with reporters.
Some research suggests that unlimited borrowing may encourage colleges to drive up the price of tuition.
"The amount of student loan debt Americans hold is at a record high, and much of it is shouldered by Millennials--people in their late 20s and 30s. Now, children in Generation Z, the group born after 1996, are facing their own quandary about how to pay for college. As economics correspondent Paul Solman found, some are taking very seriously the prospect of being saddled with a lifetime of loans."
Trump shouldn't be caping them, he should be ending them entirely. Wherever stolen taxpayer money goes, distortions and inflation abound. See home ownership and healthcare for further examples.
I'm all for scrapping the federal loan program.
However, you might need them for an education. At least to learn what a loan is and how it works.
Why is it the students are blamed and not the banks who saw this as a way to lend money the government would lean on people to pay back and garnish wages to get for them?
Why not blame it on colleges for charging ridiculous prices for tuition when our society damned near requires a degree for something, even if it's being an auto mechanic?
Why are college students, most of whom began borrowing when they were barely legal adults, the ones who get badmouthed?
Our country sucks sometimes. It really does.
Uh...the "students" you speak of are merely student loan conduits to college administrators. Park their butts in the seats, and watch the money roll in. The students aren't completely to blame, but you'd think that at least midway through borrowing $120,000 for a non-marketable degree in Lesbian Amphibian Studies, they'd come to the realization they had been conned.
The American higher education system needs to feel the cudgel of financial discipline on its collective throat, something that has been missing ever since we erroneously decided that everyone was college material, and there was an unlimited font of federal loan guarantees to make it a reality.
Seems like a sure fire way to have only the rich get educated,the rest? keep em dumb and stupid that way they are more likely to vote republican.
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