5 ms·
I think the only tenable solutions are 1) a ceiling on the loan amount tethered to public college costs to increase price elasticity and prevent runaway costs,
by yxwvut 5y ago
I think the only tenable solutions are 1) a ceiling on the loan amount tethered to public college costs to increase price elasticity and prevent runaway costs, along with a quota on loans to address the 'future ability to repay' issue with many majors/low caliber schools 2) free public college (or equivalent private college voucher)
Giving out loans with no cap on how much schools can charge and with no ability-to-repay check is a recipe for catastrophe.
I think option 2 is the best equitable outcome but is probably politically unsavory given the heterogeneity in public school costs/quality across states (which typically aligns with political divides).
- lotsofpulp 5y agoOption 2 is the only tenable solution. Option 1 is just more of the same we have now. Either society puts their money where their mouth is and actually pays for people to be educated, or they can choose to keep taxes lower and let people fend for themselves. Either of these options is fine, but the bullshit blank check taxpayer funded loans non dischargeable in bankruptcy is only good for politicians and taxpayers today at the expense of taxpayers and members of society tomorrow.
- lumost 5y agoThe pertinent question of where the money goes needs an answer. Afaict universities are simply spending money on more things because they can or taking on debt to drive prestige projects. We know college can be cheaper, Brigham young goes for 5k/yr, European and Canadian schools still charge less than 10k/yr.
- lotsofpulp 5y agoThe answer would be investigated and evident if proper underwriting had to be done and there was not an unlimited guarantee from future taxpayers to make good on the debt.
- selimthegrim 5y agoBrigham and Women’s will be delighted to know they acquired a university. Didn’t know they turned Mormon though.
- lumost 5y agoOof updated, should be Brigham young
- ryan93 5y agoWhat do you mean educated. Like 80% of degrees are useless. My Econ degree is a primary example of useless degrees.