Posted 6/11/2021 08:21 (#9053046 - in reply to #9052545) Subject: RE: We're about to hear the wailing, sackcloth and ashes start...
WYDave - 6/10/2021 22:14
from college graduates who can't or won't repay their loans. The suspension in loan payments is about to expire.
If the government wants to pay off loans for the benefit of students who can't/won't repay, I think Uncle Sam should get the money for this activity by seizing the endowments of colleges. Colleges created the problem, they can solve the problem. Asking a plumber or electrician to repay the loans of people with useless degrees strikes me as the fastest way to create contempt for colleges and college graduates possible.
As it is, colleges/universities have funded some absurd "student life" projects - water parks, climbing walls, etc. Somewhere between when I graduated and now, someone decided that the best way to recruit applicants for colleges seems to have been to turn colleges into amusement parks.
We need the government out of the student loan business. The colleges know exactly how much money these kids can get and set the tuition accordingly. Many kids end up saddled with a debt that they have no way to repay. Any responsible lending institution would have turned them down for the loan knowing they had a poor chance of repayment. The cost of college problem would take care of itself if people actually had to make the tuition pencil out on paper before they could get the money. I don't believe there are enough people paying cash for their education to fund these bloated campuses without the student loan program.