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> After years of projecting big profits from student lending, the federal government now acknowledges that taxpayers stand to lose $31.5 billion on the program
by mnm1 7y ago
> After years of projecting big profits from student lending, the federal government now acknowledges that taxpayers stand to lose $31.5 billion on the program over the next decade, and the losses are growing rapidly.
Most civilized countries offer free or close to free education for their young population instead of trying to profit off of this segment of the population that barely knows what it wants out of life. If they can do it, I'm sure we could. How about bailing out the people for one and ending this for profit loan system once and for all? How about investing in the future generations of Americans for once instead of trying to profit from them? Or we could continue on the path we're on and see just how much worse things get for the masses here. I wonder just how much they will put up with.
- germinalphrase 7y agoI have yet to hear about a realistic plan to remove and replace. Anyone have recommended reading?
- tlear 7y agoFree education only works when you have a selection system where you are tested and then put where you fit(shoveling dirt, laying bricks, trade school, college, university). In US any graduate from HS can go do 4 year degree in “something”. Try that in Germany or Netherlands.
- de_watcher 7y agoWell, if he's not capable to receive that education then why he's trying to borrow money for something he can't handle?
- creato 7y agoAmong other reasons why this would be unlikely to work in the US: there would almost certainly be a racial disparity in who qualifies for higher education, and that would be a political disaster.
- tlear 7y agoThere are pile of problems with this. 1. Testing 12-14 year olds to decide their lot in life is.. well unreliable. Not to mention brutal. 2. In US race card will be played once it is apparent that proportion of people with different ski color that get free education does not line up with demogrphic proportions(political suicide) 3. People WILL game it by hiring tutors to study to test, bribing teachers, teachers will cheat and give out solutions etc. In Netherlands they have what amounts to counter-intelligence apparatus to counter this. Good luck implementing that in all of the States.
- mnm1 7y agoWe do have aptitude tests and a selection system in the US: the SAT/ACT. You can't get into competitive schools without not only doing well on that test but also doing well in high school and often outside of high school. Obviously, only people who pass and are admitted would get the free education. One can't just simply go to say Berkley and start studying anything. They have stringent admissions criteria. So I don't really see what point you're trying to make. There's absolutely no reason this couldn't work in the US. For people who don't test that well there's still community colleges and lesser state schools. Little about the testing and admissions process would have to change. Only the funding and cost would need to be reworked. That's far from impossible if we want to invest in future generations rather than using them to make a short-term profit.