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We're about to hear the wailing, sackcloth and ashes start...
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Posted 6/11/2021 11:17 (#9053409 - in reply to #9053354)
Subject: RE: We're about to hear the wailing, sackcloth and ashes start...

junk fun - 6/11/2021 10:46

I don't have a problem with a the federal govt being in the college loan business, they actually make money at it if you don't count the risk, or the slippery slope into forgiveness. I'm sure there are people who go on to great careers who couldn't do it without federal loans.

A good step would be a prerequisite of passing a college level personal finance course, it would be the ideal AP class for high schoolers. Can't pass a personal finance class, can't get the loan.

The news in the last week or so was a large drop in incoming college students, disproportionately in community colleges though, the opposite of what it should be with fewer students getting four year fluff and more getting technical/trade degrees or training.

I understand your view, although I highly doubt the government is making anything . It's the colleges that are reaping the rewards of this system and they are doing it at the students expense imo. I get what you are saying about people who wouldn't be able to afford college without government assistance. I think the part you might be missing is that college would not be this expensive if it wasn't for the government assistance. Schools would be forced to align their tuition costs with predicted income in the chosen fields.
Like all of us, colleges want to charge as much as they possibly can for their service. Government funded loans allow them to charge a lot more. Ultimately this results with young people saddled with crippling debt as they begin their lives.
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