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Making providers pay back part of the tuition if graduates default on their loans would at least make them market useless courses solely to people who can affor
by philk 16y ago
Making providers pay back part of the tuition if graduates default on their loans would at least make them market useless courses solely to people who can afford them, so I suppose that's a positive.
I can think of two other things we could do to fix the problems with tertiary education:
1) Force providers to publish detailed statistics stating the average salaries before and after tuition and the employment prospects of graduates afterward. This would (hopefully) keep people from choosing to undertake useless courses even if they can afford them.
2) Remove the federal backing and bankruptcy protection attached to educational loans. If students aren't likely to be employable after going to one of these for-profit courses then no one would be willing to lend them the money.
These would also serve to curtail non-profit universities that have been foisting overpriced and worthless degrees on students.
- earl 16y agophilk -- I love your idea about forcing colleges to provide stats on how many graduates have jobs and how much they earn say 1,2,5,10,15,20, and 25 years out, but I think in practice it's pretty tricky to do -- how do you classify eg someone who got a philosophy degree and makes a living as a software developer? Don't get me wrong, I agree 100%, if for no other reason than students and the state should be able to see what we're buying for our money, but there are some hard details to work out. But in general, I can't agree more. There's no reason for the thieves running banks to have bribed their way into risk free loans to students. Especially since we didn't have an epidemic of problems before 1998. Let's let them live by their market discipline credo.
- izend 16y agoAnd plus I know I would not be willing to give my University the details of my salary, unless they retrieve them from a salary survey company.