Student loans

[nsacpi]

There will be consolidation in higher ed. But it will mostly take a form similar to shutdowns of hospitals in already underserved rural communities. Net this will matter little for the country. For those communities it will accelerate the departure of young people with ability and ambition.

[acesfull86]

I’m actually all for toppling the system but I disagree with the provision to not allow loans to be provided for certain degrees. There are a lot of low-paying fields that benefit greatly from having trained people in them. I don’t think it would take long to go down a list before most reasonable people would agree removing potentially talented people in these areas would be a bad thing.

I'd be interested to see how the market responds

[sturg33]

Impressive failure

[Tapate50]

Impressive failure

BL doing BL things

[Carp]

Impressive failure

Colleges have added so many programs and courses over the years in an attempt increase enrollment and gouge more money, that many degrees have become way too vague and mostly useless. The best you can say for some degrees is that it shows you are dedicated enough to complete a 4 year program. But you bring no real skills to the job when you graduate. I also am seeing that MBA's are becoming significantly less valuable as well.

Kids that go into college mostly have no clue what they want to do, and many of them take business or a science as a default. I know that was me back in 2003. I went with Marketing and it took me almost 10 years after graduating in order to get into a job that actually values and utilizes my marketing degree. Granted I graduated right at the start of the Great Recession, so no one was hiring kids straight of college for jobs that paid anything worthwhile.

[thethe]

Its the colleges fault here - Have to punish them and once they are bare of their massive endowments let the chips fall where they may.

[thethe]

Impressive failure

This is why the 'College Educated' voting demographic should not be too informative. Its not an indictment that you are losing this voting bloc.

[msstate7]

Impressive failure

Wow. Wish this group would get together and sue the schools for cranking out worthless degrees

[nsacpi]

It should go without saying that no investment produces a guaranteed return. If that were the criteria no type of investment would be undertaken. If you look at the risk/return profile of an investment in education the returns are quite favorable. Moreover, it is a type of investment with large amounts of favorable externalities that accrue to society generally.

All of this is boring and pedantic. But someone's gotta do the Lord's work (aka pointing out the obvious) around here.

[msstate7]

It should go without saying that no investment produces a guaranteed return. If that were the criteria no type of investment would be undertaken. If you look at the risk/return profile of an investment in education the returns are quite favorable. Moreover, it is a type of investment with large amounts of favorable externalities that accrue to society generally.

All of this is boring and pedantic. But someone's gotta do the Lord's work (aka pointing out the obvious) around here.

Obviously, but I think schools should be able to place 75% of their graduates with a job within their field. If they can't, then they shouldn't be able to use federal student loans for those programs

[chop2chip]

It should go without saying that no investment produces a guaranteed return. If that were the criteria no type of investment would be undertaken. If you look at the risk/return profile of an investment in education the returns are quite favorable. Moreover, it is a type of investment with large amounts of favorable externalities that accrue to society generally.

All of this is boring and pedantic. But someone's gotta do the Lord's work (aka pointing out the obvious) around here.

I agree with you directionally. Education is a good thing and it can unlock a higher quality of life (the much maligned laptop class has it well). An educated population is better than an uneducated population.

But in context of student loan forgiveness, eliminating the risk from the “risk/reward” profile not only distorts decision making but also accrues negative externalities for society.

[nsacpi]

I agree with you directionally. Education is a good thing and it can unlock a higher quality of life (the much maligned laptop class has it well). An educated population is better than an uneducated population.

But in context of student loan forgiveness, eliminating the risk from the “risk/reward” profile not only distorts decision making but also accrues negative externalities for society.

I've argued against Biden's loan forgiveness (see for example post 122 on page 7 of this thread). If you look at the posts I responded to on this page (#583-588) they have nothing to do with loan forgiveness.

I have (somewhat tongue-in-cheek) argued against transfers from blue states to red states on grounds that they foster a culture of laziness and dependency in the recipient states. But that is a joke. I think the richer and better educated people from the blue states are happy to help out fellow Americans in need and have nothing but feelings of love for the nice folks they have been shipping boatloads of money to for many decades now. It's a good investment even if 78.2% of them don't seem to appreciate it.