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I agree.
Colleges and hospitals are two of the biggest extortion rackets going.
I personally don't think they need to be "free", they just need to be held accountable for what they're charging people. Maybe then the cost would reflect actual value. Also, people shouldn't be able to borrow their entire existence while in college. That's just reckless.
The issue is in the favor of these extortionists: they have everyone believing you'll die without medical care every time you get the sniffles and you'll be homeless without a college degree.
We actually buy into this nonsense and willingly sell our firstborn to attain them. We're gullible and those institutions take full advantage.
The woman in the article could make 28k a year as a Walmart greeter, so either she had hideously poor guidance or she's just not too bright.
But yeah, instead of the feds forgiving these loans, let the colleges eat the crap they've been feeding people. Same goes for hospitals in my opinion.
The whole reason we have such high tuition is due to government loans. Not defending these costs but the root of the problem is easy government money. Hospitals are completely different and their costs and reimbursement system is very complex. But if you turn off the government gravy then tuition will drop.
The whole reason we have such high tuition is due to government loans. Not defending these costs but the root of the problem is easy government money. Hospitals are completely different and their costs and reimbursement system is very complex. But if you turn off the government gravy then tuition will drop.
Tuition was just as high prior to student loans with the exception of a short period of time in the 1900s. There's nothing wrong with tuition rates.
There's a larger problem with the abundance of low quality universities.
It was quite a while ago that I was in college in the welfare reform workshops. There was never any charts showing anything like that. Instead, we had case workers steering us to particular selections. Majors such as psychology and nursing was discouraged. Some went that route anyway and flunked out.
They were not there of their own freewill. Welfare reform demanded that they go to college full-time and participate in the workshop or they work a job so many hours a week. Daycare was open 6:30am to 6pm M-F. Jobs required you to be available nights and weekends. Many were forced to go to college or lose the benefits, and many didn't have the mind for college. They ended up with thousands in debt to comply with welfare reform that started in the late 90s.
I graduated with honors and still couldn't get a job. No one wants to hire someone who is sick most of the time. I have almost four degrees. I will still never be employed. I am not allowed to have an income.
Welfare reform hurt a lot of people the way it was conducted. Case managers were trying to get as many in college as possible. There was a rumor that the state got more federal money for each one they got into college. Since pell grants didn't even cover the tuition, every one of them ended up with loans. Case managers were like 'don't worry about it' and how much we would make when we had our degrees. The government put who knows how many single mothers in deep debt.
Why in the hell would anyone listen to welfare case managers? They're bottom of the barrel government employees. Likely loaded up with useless low-demand liberal arts degrees.
The whole reason we have such high tuition is due to government loans. Not defending these costs but the root of the problem is easy government money. Hospitals are completely different and their costs and reimbursement system is very complex. But if you turn off the government gravy then tuition will drop.
Universities have a guaranteed income stream with the ready availability of government backed student loans. They have little to no incentive to reign in costs and spending. It’s well documented that there has been an explosion of non-teaching, administrative positions for the last several years. Many universities have spent enormous sums on near luxurious amenities for students, none of which enhance academic excellence. Many universities are sitting on billions of dollars of endowments. Let them dig into some of those funds to forgive the student loans of their students.
The government should stay out of the student loan business altogether. If universities think their degrees are so worthwhile and potentially economically lucrative, let them lend the money and get paid back from their students future income.
Trump and Republicans in office last year were quite happy to play along.
As did democrats.
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