Make educational loans able to be bankruptable. Then banks will think LONG AND HARD about whether that Lesbian Dance Theory major is a good investment or not...
Better yet, only offer student loans for degree paths that lead to jobs our country has a shortage of. Just use the list of jobs that are eligible for work visas. If we have to import labor, then we should be training replacements locally.
Also, put the college on the hook rather than the banks. As it is, the college gets tens of thousands in free money any time a student drops out in their first year.
Only pay at the end of the year for students who passed. Don't give the school the last payment until the student has been employed in their degree field for at least a year.
Let the colleges handle the cost of any collections, and eat the loss from any deadbeats. They already employ a team of people to harass their alumni about donations. They won't stop accepting bad students for worthless degrees until it stops making them money.
Better yet, only offer student loans for degree paths that lead to jobs our country has a shortage of. Just use the list of jobs that are eligible for work visas. If we have to import labor, then we should be training replacements locally.
Also, put the college on the hook rather than the banks. As it is, the college gets tens of thousands in free money any time a student drops out in their first year.
Only pay at the end of the year for students who passed. Don't give the school the last payment until the student has been employed in their degree field for at least a year.
Let the colleges handle the cost of any collections, and eat the loss from any deadbeats. They already employ a team of people to harass their alumni about donations. They won't stop accepting bad students for worthless degrees until it stops making them money.