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Reducing the supply for colleges isn't going to make overall college education cheaper while maintaining the same quality of education. There is certainly some

by slg 7y ago

Reducing the supply for colleges isn't going to make overall college education cheaper while maintaining the same quality of education. There is certainly some waste in college budgets, but it will mostly force colleges to cut the least profitable programs. Education is a social good. We should invest in it like we do with other public services. It shouldn't need to be profited minded.

dabbledash 7y ago
I think we should invest in public colleges (increasing supply) and stop subsidizing loans with special bankruptcy protections and federal money (reducing demand at higher price points).
- slg 7y ago
  Sorry, I phrased that last comment incredibly poorly. I was referring to the supply of financing which in turn impacts demand. When the demand curve shifts, they supply being provided by colleges decreases. The overall amount and quality of education is not something we want to be decreasing.
jimbokun 7y ago
> We should invest in it like we do with other public services. Yes. We should invest in public universities to have very low cost or free tuition, and stop pouring public money into private education institutions.
JamesBarney 7y ago
>Reducing the supply for colleges isn't going to make overall college education cheaper while maintaining the same quality of education. There is certainly some waste in college budgets, but it will mostly force colleges to cut the least profitable programs. Education is a social good. We should invest in it like we do with other public services. It shouldn't need to be profited minded. We subsidize the shit out of education, and yet it still manages to be such an awful investment people can't pay it off over 30 years with very low interest rates.
- slg 7y ago
  A person's ability to pay off a loan is not the true value of the investment. There are positive externalities to getting an education that boost society as a whole. Real wage stagnation, rising income inequality, and compound interest on loans would all serve to make this investment less rewarding for individuals while not decreasing the overall societal value of education.
  - JamesBarney 7y ago
    There definitely are positive externalities to education. But I doubt they are even within an order of magnitude of the benefits of training and signalling which accrue to the individual.

by slg 7y ago

dabbledash 7y ago

I think we should invest in public colleges (increasing supply) and stop subsidizing loans with special bankruptcy protections and federal money (reducing demand at higher price points).

slg 7y ago
Sorry, I phrased that last comment incredibly poorly. I was referring to the supply of financing which in turn impacts demand. When the demand curve shifts, they supply being provided by colleges decreases. The overall amount and quality of education is not something we want to be decreasing.

jimbokun 7y ago

> We should invest in it like we do with other public services. Yes. We should invest in public universities to have very low cost or free tuition, and stop pouring public money into private education institutions.

JamesBarney 7y ago

>Reducing the supply for colleges isn't going to make overall college education cheaper while maintaining the same quality of education. There is certainly some waste in college budgets, but it will mostly force colleges to cut the least profitable programs. Education is a social good. We should invest in it like we do with other public services. It shouldn't need to be profited minded. We subsidize the shit out of education, and yet it still manages to be such an awful investment people can't pay it off over 30 years with very low interest rates.

slg 7y ago
A person's ability to pay off a loan is not the true value of the investment. There are positive externalities to getting an education that boost society as a whole. Real wage stagnation, rising income inequality, and compound interest on loans would all serve to make this investment less rewarding for individuals while not decreasing the overall societal value of education.
- JamesBarney 7y ago
  There definitely are positive externalities to education. But I doubt they are even within an order of magnitude of the benefits of training and signalling which accrue to the individual.