Should Wall Street pay off student debt

[GMDino]

(06-28-2019, 01:00 PM)Au165 Wrote: I always felt like it would make sense for schools to price tuition based on your major and it's expected earning potential. Everyone pays the freshman fee to take general classes then after that it is wholly dictated by the major and it's potential earning power. I am also intrigued by the idea of, instead of taking loans you can simply promise a percentage of your first x years of wages as their payment. If you can't find a good paying job because of the degree they awarded you then you both can feel the pain together. This would incentivize the schools to help you get not just any job but a good paying one. It also would force schools who peddle in worthless degrees to reconsider their business model. 

The issue there would be the market changes.

Currently there is a lack of nurses and doctors and physical therapists.

Over time more and more people fill those roles, but then as the baby boom generation dies off there is less of a need for those jobs and we end up with a glut of people with majors they can't use or make money with.

At one time that was lawyers, and accountants.  

It would be the same with "ditch diggers".  If/when the economy breaks down again there are less jobs and it doesn't matter how good you are if the jobs aren't there and if the jobs aren't there the pay won't be either.  

Heck pay has barely risen with unemployment at record lows.