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I was able to go to engineering school thanks to FAFSA. FAFSA seems to be run by the Dept of Edu. I want my taxes to go to such programs personally. My family h

by bfrog 10y ago

I was able to go to engineering school thanks to FAFSA. FAFSA seems to be run by the Dept of Edu. I want my taxes to go to such programs personally. My family has certainly become wealthier and been able to pay more in taxes because of FAFSA. Big govs investment in me has paid back 10 fold by now. The next looming debt crisis is one founded on education loans. Does this sort of government gutting really help with that? Is congress planning on giving a check to every college student enrolled instead with the money saved? Are they planning on forgiving a large portion of mortgage sized education loans? If not I fully expect another financial crisis to arise in the next 10 years primarily caused by student loans.

Hydraulix989 10y ago
Yes, without FASFA, I would have gone to a substantially inferior college than the Top 15 school I went to (which was nearly free with my aid package). I would not have had that rare opportunity to succeed (and believe me, I made the most of it). Cutting this department just means even more of the "rich get richer."
paulddraper 10y ago
Economics 101: supply and demand. Grant money makes prices higher not lower. Take a look ITT. They took billions per year of poorly spent government grants, and left taxpayers on the hook for hundreds of millions. That school would not have existed were it not for federal grants. Separating the payer from the decision maker yields very uneconomical decisions, in education, healthcare, whatever. There are two options (1) restore sanity by regulating the hell out of education pricing or (2) restore sanity with market pressure. I lean towards #2, but either way, grants aren't effective at lowering costs.
- jklowden 10y ago
  Ah, but the facts contradict ye. Look at private school tuitions. Look at the cost of daycare. They're not publicly subsidized, and they've risen just as fast as private college tuition. You're also overlooking the rising value, and rising recognized value, of a college degree. Since 1979, only college-educated workers have seen median wages rise. A high school diploma earned a -27% real return over the same period. Is it any surprise young people are encouraged and willing to pay anything, anything for a shot at economic opportunity? (Further information at epi.org.) The rise in public university tuition is largely explained by reduced subsidies. Year after year, states "hold the line" on higher education spending, leaving ever more of the cost to students (and students' families, of course). To the point that California famously once spent more on college than prisons, and now spends more on prisons than college.
  - paulddraper 10y ago
    Private school tuition can be subsidized by federal student grants and loans as well. Grants and loans have been around for a long time. I'm not saying they're the cause of rising tuition. I'm saying increasing them wouldn't help. I agree that the value of a college degree has a lot to do with increased tuition costs. If the average person will earn more than a $1 million more over his lifetime for getting a college degree, even expensive college is still "a good deal".
- jklowden 10y ago
  Ah, but the facts contradict ye. Look at private school tuitions. Look at the cost of daycare. They're not publicly subsidized, and they've risen just as fast as private college tuition. You're also overlooking the rising value, and rising recognized value, of a college degree. Since 1979, only college-educated workers have seen median wages rise. A high school diploma earned a -27% real return over the same period. Is it any surprise young people are encouraged and willing to pay anything, anything for a shot at economic opportunity? (Further information at epi.org.) The rise in public university tuition is largely explained by reduced subsidies. Year after year, states "hold the line" on higher education spending, leaving ever more of the cost to students (and students' families, of course). To the point that California famously once spent more on college than prisons, and now spends more on prisons than college.

by bfrog 10y ago

Hydraulix989 10y ago

Yes, without FASFA, I would have gone to a substantially inferior college than the Top 15 school I went to (which was nearly free with my aid package). I would not have had that rare opportunity to succeed (and believe me, I made the most of it). Cutting this department just means even more of the "rich get richer."

paulddraper 10y ago

Economics 101: supply and demand. Grant money makes prices higher not lower. Take a look ITT. They took billions per year of poorly spent government grants, and left taxpayers on the hook for hundreds of millions. That school would not have existed were it not for federal grants. Separating the payer from the decision maker yields very uneconomical decisions, in education, healthcare, whatever. There are two options (1) restore sanity by regulating the hell out of education pricing or (2) restore sanity with market pressure. I lean towards #2, but either way, grants aren't effective at lowering costs.

jklowden 10y ago
Ah, but the facts contradict ye. Look at private school tuitions. Look at the cost of daycare. They're not publicly subsidized, and they've risen just as fast as private college tuition. You're also overlooking the rising value, and rising recognized value, of a college degree. Since 1979, only college-educated workers have seen median wages rise. A high school diploma earned a -27% real return over the same period. Is it any surprise young people are encouraged and willing to pay anything, anything for a shot at economic opportunity? (Further information at epi.org.) The rise in public university tuition is largely explained by reduced subsidies. Year after year, states "hold the line" on higher education spending, leaving ever more of the cost to students (and students' families, of course). To the point that California famously once spent more on college than prisons, and now spends more on prisons than college.
- paulddraper 10y ago
  Private school tuition can be subsidized by federal student grants and loans as well. Grants and loans have been around for a long time. I'm not saying they're the cause of rising tuition. I'm saying increasing them wouldn't help. I agree that the value of a college degree has a lot to do with increased tuition costs. If the average person will earn more than a $1 million more over his lifetime for getting a college degree, even expensive college is still "a good deal".
jklowden 10y ago
Ah, but the facts contradict ye. Look at private school tuitions. Look at the cost of daycare. They're not publicly subsidized, and they've risen just as fast as private college tuition. You're also overlooking the rising value, and rising recognized value, of a college degree. Since 1979, only college-educated workers have seen median wages rise. A high school diploma earned a -27% real return over the same period. Is it any surprise young people are encouraged and willing to pay anything, anything for a shot at economic opportunity? (Further information at epi.org.) The rise in public university tuition is largely explained by reduced subsidies. Year after year, states "hold the line" on higher education spending, leaving ever more of the cost to students (and students' families, of course). To the point that California famously once spent more on college than prisons, and now spends more on prisons than college.