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Paying for college/university is all kinds of crazy insane expensive. So if we were to really tackle it, what do you think would be the best way? I mean I hear of all these people having $100,000 in debt. Like what the hell? Far as I am concerned college should never cost anything more than $10-20 thousands at worst.
Paying for college/university is all kinds of crazy insane expensive. So if we were to really tackle it, what do you think would be the best way? I mean I hear of all these people having $100,000 in debt. Like what the hell? Far as I am concerned college should never cost anything more than $10-20 thousands at worst.
A drop in number of students, compared to other forms of post-secondary education. If college isn't seen as worth it in society, they'll have to cut costs. A massive cut in the faculty numbers at universities (non-professors, the bureaucracy). Probably less research.
Some sort of law, that limits public colleges as government institutions from being so expensive, which would then incentivize private education to lower their prices if you can get in the best California, Virginian, Georgian, Michigan, Texan, New York schools for significantly cheaper.
a Doctor that rolls up a $500K tab in medical school to come out and make $400K to start soon off doesn't have a problem with his debt.
So, perhaps the first, and easy, step is to require colleges that take students who are taking on debt to limit what that student pays to a ratio of the current earnings for a graduate in that field.
I mean, if you just stop for a second and think about it - the loans are made to be repaid in 10 years basically, right? And the bankers would tell you that non-housing monthly debt shouldn't be more than ~10% of your income (and 36% total debt once you get a mortgage). I think the debts are running ~5% right now, so ...
Borrow $100K to get through college. Call that $1,061/mo = $12,728/year.
That means your income better be $159K/year if you make the choice to borrow $100K. And so the college should either a) make you take a field of study that yields $160K/year or they need to drop what they charge you to maintain the ratio.
For my state's voters to decide that funding higher education is worth higher taxes, but that's never going to happen. I saved religiously and invested aggressively for my kids to attend college, ending up with enough to ensure they would graduate debt-free. The state university they attend/ed cost more per semester than I paid for my entire education at a similar university. I feel fortunate to have been able to do so because that kind of debt would have been crushing for them.
1) End government-backed student loans
2) Prohibit loan forgiveness
3) Student loans should be underwritten like any other loan. The ability to get a loan should be based on an assessment of the recipient's ability to afford the loan based on future job prospects and the expected pay for a given job. For example: engineering majors would qualify easily. Fluff majors with poor job prospects could not be financed by student loans.
4) All athletic programs must be completely self-sufficient and funded entirely by ticket sales. This includes stadium construction, security, equipment, and all athletic department (including coaches) salaries.
5) No scholarships for athletics. Academic scholarships only.
6) Eliminate all courses that are simply people playing sports instead of learning anything useful.
7) All donations and government funding must be used for academic purposes, primarily to subsidize value-added majors. In other words, the engineering, business, and nursing, etc. departments would get most of the funds. Departments like English, Math, History, etc. would be tier 2. No funding would be allocated to gender studies, race studies, or any other made-up fake degree.
8) Fake degree programs should be terminated immediately. By fake, I mean nonsense like gender studies.
9) Prohibit incestuous relationships between defense contractors and universities.
Privatize ALL of them, but regulate them & minimize the % of students who are taking student loans to avoid fraud, & mandate national testing throughout to insure performance.
Paying for college/university is all kinds of crazy insane expensive. So if we were to really tackle it, what do you think would be the best way? I mean I hear of all these people having $100,000 in debt. Like what the hell? Far as I am concerned college should never cost anything more than $10-20 thousands at worst.
Cut tuition!
There has been a massive expansion of buildings that are not needed and a logrithmic expansion in bureaucracy at universities.
Cut all the BS staff and don't give every BS admin position a private office and you would significantly cut costs.
Subsidize community college and trade schools, each state can make their own arrangements. A couple years of community college will ease the burden of getting a 4 year degree.
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