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>If I were more cynical You'd need to be more than cynical to believe that. >"how about we make sure that their high school teachers are all people who can't
by learc83 9y ago
>If I were more cynical
You'd need to be more than cynical to believe that.
>"how about we make sure that their high school teachers are all people who can't manage to effectively manage their money"
How does this follow? If I'm aware that becoming a high school teacher ensures that I can borrow money to go to college that will be repaid by the government after 10 years of working, and I take advantage of that, how exactly does that show that I can't effectively manage money?
>creating a strong financial incentive to become a teacher but only if you can't pay your debts
That doesn't follow either. It has nothing to do with whether you can pay your debts or not. Most of the people who qualify for this program would have paid their loans off had they not been aware this program existed.
Instead they chose to make minimum payments and use the money saved for other purposes. Nothing about that demonstrates financial illiteracy. In fact taking advantage of a rather byzantine aid program demonstrates financial literacy.
- cperciva 9y agoHow does this follow? If I'm aware that becoming a high school teacher ensures that I can borrow money to go to college that will be repaid by the government after 10 years of working, and I take advantage of that, how exactly does that show that I can't effectively manage money? Because the program didn't exist when you made the choice to accumulate unsustainable debts. Using the existence of the program to justify taking on that debt is like a lottery winner claiming that buying lottery tickets was a good financial decision; true, it paid off in the end, but only by luck.
- learc83 9y ago>Because the program didn't exist when you made the choice to accumulate unsustainable debts. Where are you getting this from? The program has existed for 10 years, and many similar programs where state and local governments would pay off loans if you came to work for them existed for years before that. >unsustainable debts Even in the case of someone who took out loans before the program existed, how does it follow that the debts are unsustainable? What if I have $40k in student loans that I'm perfectly able to repay over 10 years, but I chose to work as a teacher knowing that one of the benefits of that career choice is that I can make minimum payments, and take advantage of this program.
- rayiner 9y agoPLSF has been around for quite awhile. I know lots of people who turned down scholarship money and high paying jobs in reliance on PLSF. That was be point of the program—to make it possible for people who wanted to go into public service to go to the same caliber of schools as their private sector counterparts.