Well, we can agree that complete loan forgiveness is not the way to handle this. How it gets handled is anybody's guess at this point, and hardcore leftist pandering to the millennials just complicates the problem. And I think we can agree a whole lot more work needs to be put into the front end of this choice between college and some other path which is probably more appropriate in many cases, and I'm still holding my position that discussion needs to come first, otherwise we find ourselves in a similar position to illegal immigration, in that we're chasing horses with the "promise" of closing the door AFTER we figure out what to do about all the horses running around. No, close the door first, then we can debate some kind of amnesty. Prevent the excessive loans from occurring before the kid ends up buried in debt with little or nothing to show for it, then we can figure out what to do with the existing student debt for those who were scammed by this corrupt post secondary educational system.
Stanford and Harvard from what I know pick up the tab if family income is under 100k and nowadays prefer a more diversified student body then just wealthy legacies. A friend of mines daughter played soccer for Harvard and they picked up 90% of the tab since Ivy League schools don’t give out athletic scholarships.
There's no real reason to have universities anymore. It can all be done online at vastly lower cost. If Trump really wanted to hurt his enemies in academia, he would start a free online U.S. government-sponsored university offering topnotch professors in a non-politicized environment. One stroll though pretty much any university these days will tell you the primary thing they are offering is not education. It is entertainment, kind of like a non-stop Vegas weekend. Any actual learning is incidental and totally dependent on the student's initiative.
A lot of the strength in the economy is based on the educational attainment of the workforce. It’s not a coincidence people with college degrees and professional certifications like master plumber 1. Have a low unemployment rate and 2. Command high salaries. In a lot of ways the gains in minority communities are connected to the ability to get a college education.
top notch professors choosing to work for the government at a government rate salary versus private sector salaries........haha
Well to be fair I said INTEREST forgiveness. Most of the payment like in a mortgage is interest. Loan servicers can be flexible on interest portions and forgive portions to make payments more manageable but still get principal payments and some interest back loaded when the person is in a better financial position. There is also interest deferment which allows lower payments earlier. So many ways that credit card companies do it to avoid 100% losses and still get paid so Sallie mae et al can come up with ideas. It is not to let someone off the hook, just make their path easier. I think the mid level colleges need to step up in marketing to show they can offer a quality education at a better price than the top tier schools.
They could monetize it into the millions. If their classes are so hot, 10,000 students could be enrolled no problem. Problem for them is that these profs will actually need to produce. Wonder how many would be up for the challenge?
What do you think they get paid in academia? Get retired professors who are either eminent in their fields or outstanding teachers. No more grad assistants doing the actual teaching. Look, I don't pretend to have all the answers or any of them for that matter. I can recognize a model that has clearly outlived its usefulness however, and now has become a huge dead weight on the economy. It's a sad confirmation of how easily millennials can be gaslighted however that they blame everybody but the universities that gouged them for an inferior product.
I was an adjunct for 4 years teaching undregrad. It is a thankless job and admire those who do it well but students are entitled little shits and I felt like I was wasting my time with 75% of them.