IMO the only way to fix this shit is to make the universities have skin in the game. While I know most here don't like government involvement, we've already crossed that line when Obamacare made taxpayers liable for all this debt.
I've long suggested a system where school loans the money, potentially borrowing it themselves from the fed, like a correspondent lender does. Then they are the ones that loan the money, they are required to keep the loan on their books and if the money isn't paid back in 20 years the debt is forgiven and they eat whatever loss is there. If it's paid back in less than that, they get whatever interest was earned as well as whatever profits were made.
If you do the terms and regs right, real quick you'd have schools questioning whether or not the person would be able to pay it back or not. That electronics or engineering degree could be a pretty profitable investment. The shitty degree in feminist dance theory, that won't ever pay for itself... well they better be willing to put a big down payment to ease the risk. And that right there would be an immediate wake up call for any young student.
It's one thing when every career path appears to be equal when the money is free; it's another when you gotta fork over a big chunk of cash because everybody knows you're gonna be a deadbeat and the school that's about to teach you useless skills is effectively admitting up front they won't be worth jack shit.
Once the schools themselves have their own profits tied to the future of their students, I think you'd see a very different attitude arise towards higher education. One that was less predatory and instead was more selfishly symbiotic.
Would be interesting to see schools take a % of future income for a set period of time. Similar to job agencies and other places that train you.
I bet feminist trash would go down the shitter awfully quick once schools realize that they're no longer incentivized to sell as much useless crap (i.e. gender studies degrees) as possible because kids will buy it.
IMO the only way to fix this shit is to make the universities have skin in the game. While I know most here don't like government involvement, we've already crossed that line when Obamacare made taxpayers liable for all this debt.
I've long suggested a system where school loans the money, potentially borrowing it themselves from the fed, like a correspondent lender does. Then they are the ones that loan the money, they are required to keep the loan on their books and if the money isn't paid back in 20 years the debt is forgiven and they eat whatever loss is there. If it's paid back in less than that, they get whatever interest was earned as well as whatever profits were made.
If you do the terms and regs right, real quick you'd have schools questioning whether or not the person would be able to pay it back or not. That electronics or engineering degree could be a pretty profitable investment. The shitty degree in feminist dance theory, that won't ever pay for itself... well they better be willing to put a big down payment to ease the risk. And that right there would be an immediate wake up call for any young student.
It's one thing when every career path appears to be equal when the money is free; it's another when you gotta fork over a big chunk of cash because everybody knows you're gonna be a deadbeat and the school that's about to teach you useless skills is effectively admitting up front they won't be worth jack shit.
Once the schools themselves have their own profits tied to the future of their students, I think you'd see a very different attitude arise towards higher education. One that was less predatory and instead was more selfishly symbiotic.
Would be interesting to see schools take a % of future income for a set period of time. Similar to job agencies and other places that train you.
I bet feminist trash would go down the shitter awfully quick once schools realize that they're no longer incentivized to sell as much useless crap (i.e. gender studies degrees) as possible because kids will buy it.