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Tuition is rising, across the board, without much regard for marketability of degrees. It's more a function of the way society values school 'brands' and the w
by roc 13y ago
Tuition is rising, across the board, without much regard for marketability of degrees. It's more a function of the way society values school 'brands' and the way government guarantees abet this behavior by allowing essentially anyone to borrow as much as they want for whatever they want.
(Want to get a run-of-the-mill BA from an outrageously-expensive private college? Just sign here.)
I'm not sure I'd go so far as to say that the government should cap loans by degree-marketability or restrict school selection by a grading of school outcomes, but either a massive social re-valuation of tuition needs to happen, or things along those lines are going to need to be approached.
Our economy can't really grow when every young person is buried under student loan debt for years and years. Particularly not as we've transitioned to defined-contribution retirement plans. A decade of paying off student loan debt would either then be followed by large 'catch-up' contributions to make up the difference -- further delaying/retarding productive economic engagement -- or be underfunded, leading to higher social safety net expenditures when those workers retire without sufficient savings.