Because going to college now costs exactly the same as it did "in the old days"...
Do you know any doctors? Have you talked to any about how much it cost them to go to school? I have a friend that went for a specialization in dermatology and he ended up with well over $200K in debt. That's DERMATOLOGY, not heart surgeon, not brain surgeon, SKIN!!
You do know that a big reason that the cost of college is so high is these federally subsidized loans right? Reason would say that removing those would bring down the cost of college significantly as fewer people could pay that amount for an education.
And I have no doubt that he will pay it back because that's the kind of guy he is, my argument was there is no way he could have afforded to go to college for that specialization in the first place with a $10K cap on his student loans unless he spread his education out over 20 years.
That's entirely from medical school, which leads to residency, which is forced servitude sponsored by the federal government and pays far below legitimate market salary. There's no reason for medical training to be structured the way it currently is. Get rid of federal loans and guarantees, and the system will be restructured, most likely with medical schools acting as lenders and the socialist residency system being replaced by a market-based post-graduate training system.
And by the way, dermatology is one of the most competitive specialties, due to the combination of high pay (due to huge self-pay cosmetic business) and relatively relaxed lifestyle (dermatology doesn't involve middle-of-the-night emergencies). The acronym for the most sought-after residencies is "ROAD": Radiology, Ophtalmology, Anesthesiology, Dermatology.
I don't know enough about how medical training is structured to make an argument on what would be better and I'm not saying you may not be right... But, realistically, in the many, many years (considering the bureaucracy in universities) it would take them to "restructure" the entire system a $10K/year cap on loans would severely limit the number of people going to college in highly specialized fields, thereby creating a significant shortage of those folks down the road. How do we solve the problem without shooting ourselves in the foot in 5-10 years?
You don't need government to fund the loans, there are plenty of investment firms that offer student loans. Offering money with no expectation of its wise application is just creating generations of dependent Democrat voters that hate the system because they are trapped. It's indentured servitude under the guise of Education.
Then teach your kids that there are other options and that college isn't a guaranteed path to success. But you cant argue that college won't be a requirement for some career choices. And I highly doubt these investment firms you speak of offer the same low interest rates that government loans offer, that's the appeal of them.
We would end up with zero future doctors...
Because going to college now costs exactly the same as it did "in the old days"...
Do you know any doctors? Have you talked to any about how much it cost them to go to school? I have a friend that went for a specialization in dermatology and he ended up with well over $200K in debt. That's DERMATOLOGY, not heart surgeon, not brain surgeon, SKIN!!
You do know that a big reason that the cost of college is so high is these federally subsidized loans right? Reason would say that removing those would bring down the cost of college significantly as fewer people could pay that amount for an education.
I would be interested in learning more about that claim, do you have some source info you can point to?
Ask him how much he is making at a dermatologist when he finishes.
Can pay back his loans in a few years if he lives like everybody else.
Derm and radiology is harder to get into than surgery
And I have no doubt that he will pay it back because that's the kind of guy he is, my argument was there is no way he could have afforded to go to college for that specialization in the first place with a $10K cap on his student loans unless he spread his education out over 20 years.
That's entirely from medical school, which leads to residency, which is forced servitude sponsored by the federal government and pays far below legitimate market salary. There's no reason for medical training to be structured the way it currently is. Get rid of federal loans and guarantees, and the system will be restructured, most likely with medical schools acting as lenders and the socialist residency system being replaced by a market-based post-graduate training system.
And by the way, dermatology is one of the most competitive specialties, due to the combination of high pay (due to huge self-pay cosmetic business) and relatively relaxed lifestyle (dermatology doesn't involve middle-of-the-night emergencies). The acronym for the most sought-after residencies is "ROAD": Radiology, Ophtalmology, Anesthesiology, Dermatology.
I don't know enough about how medical training is structured to make an argument on what would be better and I'm not saying you may not be right... But, realistically, in the many, many years (considering the bureaucracy in universities) it would take them to "restructure" the entire system a $10K/year cap on loans would severely limit the number of people going to college in highly specialized fields, thereby creating a significant shortage of those folks down the road. How do we solve the problem without shooting ourselves in the foot in 5-10 years?
You don't need government to fund the loans, there are plenty of investment firms that offer student loans. Offering money with no expectation of its wise application is just creating generations of dependent Democrat voters that hate the system because they are trapped. It's indentured servitude under the guise of Education.
Then teach your kids that there are other options and that college isn't a guaranteed path to success. But you cant argue that college won't be a requirement for some career choices. And I highly doubt these investment firms you speak of offer the same low interest rates that government loans offer, that's the appeal of them.
I was going to add $20,000/year for graduate studies with a 150k lifetime cap but figured it was too long a title.