7 ms·
That sounds nice but it requires there to be a definition of "societally high-reward education". That is difficult. Even if you find some methodology to identif
by gwright 7y ago
That sounds nice but it requires there to be a definition of "societally high-reward education". That is difficult. Even if you find some methodology to identify the quality programs that have an appropriate "societal reward" you have to deal with the problem that the costs for those programs will inevitably rise in lock step to the amount of tax dollars used to subsidize them. (See https://www.newyorkfed.org/medialibrary/media/research/staff_reports/sr733.pdf https://www.newyorkfed.org/medialibrary/media/research/staff...)
I would suggest the federal government get out of educational loans entirely. Let the private loan market evaluate and take the risks, probably with an income based repayment contract that favored degrees/programs that are likely to lead to reasonable incomes.
- vinniejames 7y agoThe more you "favor" particular degrees, the faster you you saturate the market with new graduates. The eventual outcome being those jobs are no longer in high demand, nor pay a decent salary
- gwright 7y agoYep. That is called "the market". And I think the government shouldn't get in the way and "favor" anything. Let people decide their own careers and interests and let them balance the pros and cons.
- pinkfoot 7y agoSteve Jobs had an English degree. Would most STEM obsessed industrialised file that under 'favoured'?
- gwright 7y agoWho knows? Like I said that is a difficult decision and I'd rather those decisions be made by individuals. They can decide if taking out a loan to get an English degree is worthwhile. And if they can't find someone to loan them the money, they may have find a different approach.