08-12-2016, 10:17 AM
It would be an absolute game changer if schools were on the hook for student loans. In other words, if you can't get a job or the job you can get does not enable you to pay back the loan then THE SCHOOL - and not the taxpayer - should eat the loss. Because what will happen is schools will be forced to be more careful of admitting incapable students, and more aggressive in failing out bad students.
Because what easy money/loans simply encourage schools to accept and string along incapable students. And that also has the effect to water down the value/ROI of a degree.
There's absolutely no incentive for schools to hold costs down, nor to keep students from piling up debt. And truthfully schools already engage in significant wealth transfer as wealthier students paying full boat are effectively subsidizing significant scholarships and grants to less affluent students.
Because what easy money/loans simply encourage schools to accept and string along incapable students. And that also has the effect to water down the value/ROI of a degree.
There's absolutely no incentive for schools to hold costs down, nor to keep students from piling up debt. And truthfully schools already engage in significant wealth transfer as wealthier students paying full boat are effectively subsidizing significant scholarships and grants to less affluent students.
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