Student loans

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.
 
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mqt said:
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.
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I'd be interested to see how the market responds
 
sturg33 said:
Impressive failure

[Tw]1763546478675423467[/tw]
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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.
 
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.
 
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.
 
nsacpi said:
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.
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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
 
nsacpi said:
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.
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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.
 
chop2chip said:
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.
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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.
 
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Grown *** man with a job (communications director in DC) couldn’t pay back $8 grand in loans in 14 years, and instead of being embarrassed, is out celebrating the transfer of the debt onto the backs of taxpayers. Clown.
 
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acesfull86 said:
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Grown *** man with a job (communications director in DC) couldn’t pay back $8 grand in loans in 14 years, and instead of being embarrassed, is out celebrating the transfer of the debt onto the backs of taxpayers. Clown.
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****ing embarrassing.

This administration is an absolute joke. So bad even our local hard core Libby’s won’t acknowledge it anymore
 
acesfull86 said:
[tw]1803490997457789263[/tw]


Grown *** man with a job (communications director in DC) couldn’t pay back $8 grand in loans in 14 years, and instead of being embarrassed, is out celebrating the transfer of the debt onto the backs of taxpayers. Clown.
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There's not enough bullying and public shame in this country

He should be humiliated by his failure
 
Subsidies to education--generally good policy.

Loan forgiveness---generally bad policy and bad politics.

Biden deserves to be raked over the coals for it and it would be malpractice on his opponents' part not to do so.
 
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sturg33 said:
There's not enough bullying and public shame in this country

He should be humiliated by his failure
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100%

Guys a failure and wants to be off the hook for it. Amazing lack of self awareness.

Self awareness is something we see as a common thread from the Loonies.
 
nsacpi said:
Subsidies to education--generally good policy.

Loan forgiveness---generally bad policy and bad politics.

Biden deserves to be raked over the coals for it and it would be malpractice on his opponents' part not to do so.
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how about impeached for breaking the law?
 
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