They got out of subsidized student loans. These “private student loans” charge interest on Day One, not after graduation.
1 Like
That was an amazing piece of video as the democrat attack dog had no clue the Federal Gov’t had completely taken over the student loan industry.
They like these loans better because $$$.
Thanks.
I’m no expert on the topic, obviously, but I think it’s bad policy on the part of the federal government to be in the student-loan business.
Are you ok with people making money?
I’m confused. I thought private banks had completely gotten out of the business. Apparently, I was mistaken.
The got out of the Federally Guaranteed Student Load business.
IF, and it’s a big IF you can qualify you can still get loans but you pay interest from day one, the rates are higher, and the taxpayers are not on the hook if you default.
1 Like
Governments are not for profit enterprises.
Do we get a good financial ROI on Defense spending?
Is the non-monetary return better when a school or water treatment system is built? Or when a fighter jet and/or super cool bombs are built?
And that’s the way it should be. There is no good reason for the taxpayer to be on the hook for someone else’s college education.
1 Like
Do you work for government or academia?
The money spent by the DoEd would be better left in the local school districts. They could hire more teachers. As far as I can tell, the quality of public education has gotten WORSE in spite of $2 trillion in spending. You don’t think that money could be better spent at the local level?
I’m not opposed to federal or state loan guarantees as long as hey have a way to claw it back if the student defaults and the gov’t has to cover it.
For decades if you defaulted on a federal or state guaranteed SL they’d simply garnish your income tax refund and if necessary garnish your wages.
We will see a huge move if dem’s get control in 2020 to at a minimum allow student loan debt to be discharged through bankruptcy and probably an outright forgiveness of all student debt for just about everyone but straight white males on the premise of some sort of reparations or affirmative action program or some combinatin of both.
I do not work in Government or academia.
The majority of funding for education is from property taxes. States primarily fund their education systems, and also generally run their systems as they want, as long at they meet certain protocols.
Do you have, or ever had kids in school?
Where do you get these scrapings?
I believe the student-loan program has allowed colleges to raise tuition costs dramatically over the years. Universities know the fed will loan any amount of money and, frankly, they prey on young people who don’t know any better. Elizabeth Warren’s solution is to, of course, make the American taxpayer pay for it. Then, everyone can go to college, universities can charge even more, faculty will enrich themselves and the taxpayer gets screwed - as usual.
Yes. Why?
Then you should know funding for public schools is primarily done by the states.
Generally, if one lives in a nice area, with higher property taxes, the schools are better. which is why homes in better school districts, are more expensive.
Did you not consider this when you had kids?
Yes, I know. The point is, people are being taxes and their money is being sent to Washington to fund an agency that, as far as I can tell, has done NOTHING to improve public education.
How about we eliminate the DoEd, cut taxes accordingly and allow that money to remain at the local levels. Then, perhaps, taxpayers would be able and willing to pay a little more with the money their saving for the betterment of their local schools.
Why not?
We need to look back a couple or three decades to see what happened.
We’ve had state and federally guaranteed SL’s going back at least to the early post WWII era but the cost of a college education shot up astronomically beyond the rate of inflation only since the mid to late 90’s.
I was able to work my way through 6 years of under grad and grad school with a total accumulated debt of under 20k.
I cannot recall the exact cost of books and tuition my last year but even with a full load I was paying under 2,500.00 per semester plus maybe 500.00 in books and lab fees tops.
There’s an article here showing the rise in comparison to inflation and it simply makes no sense.
Now one thing that may justify some of that increase is the sheer growth in numbers of students going to college and the resulting strain on resources requiring universities to build new buildings, hire more faculty and staff etc to accommodate them but it certainly can’t justify all of it or even most of it.
I’d love to see a good study that looks into the increase in pay for college faculty and staff over the last 40 years compared to increases in pay for those in the private sector and I suspect we might see a considerable disparity there.
I suggest you do more research before you come to such a drastic conclusion.
I will even help.
After reading that, and you think it is still a waste of money…that is certainly your prerogative.
Where did US students rank internationally in math and science 40 years ago.
How to they rank today?
1 Like
