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Wednesday, April 22, 2015

The Make College Meaningless Act

My college degree and my DD-214 are on top of one another in my sock drawer, where all my most precious keepsakes are. Guess which one is rare.

According to Gallup, 13% of American adults are veterans, while 34% have college degrees.

Estimates are between 20% and 40% of college students take remedial classes to learn what they should have learned in high school. So much for college entrance standards. Now the Democratic Party wants to water the standards further.

From Huffington Post:
 A group of congressional Democrats introduced a resolution on Tuesday seeking to ensure that students who attend public colleges and universities can graduate without debt. 
The Senate resolution was introduced by Sen. Brian Schatz (D-Hawaii), Sen. Chuck Schumer (D-N.Y.) and Sen. Elizabeth Warren (D-Mass.), while Reps. Keith Ellison (D-Minn.), Raul Grijalva (D-Ariz.) and Katherine Clark (D-Mass.) introduced the House version.
The lawmakers support plans to increase financial aid, help states lower tuition and make it possible for students to earn degrees in less time.
In a statement, they noted that the cost of college has increased by 300 percent over the last 30 years and that when students graduate with debt, it has negative effects on the economy.
“When students graduate with loads of debt, the ripple effects are endless; they're less likely to start a business, to buy a house, and to realize their full potential," Schumer said. "When it comes to making college affordable, I'm hopeful that debt-free college is the next big idea."
So we are going to increase government subsidies of higher education's tax-exempt corporations -- they call themselves universities -- and churn out more credentialed people

How about this? How about taxing tuition revenue above, say, $10,000 a year? Oh, Harvard could charge $100,000 a year. But it would be taxed on teh last $90,000.

Or this: Quit subsidizing student loans. It hurts the economy as instead of buying houses, young people are buying pieces of paper.

It's the modern tulip bubble.

9 comments:

  1. We already have free ObamaPhones, and free healthcare with ObamaCare.

    All that's left are free cars, homes, education and drugs.

    ReplyDelete
    Replies
    1. Don't you mean BushPhones? Pesky facts.

      http://www.factcheck.org/2009/10/the-obama-phone/

      Delete
    2. ... Wilson Phones ...

      Cheers

      Delete
  2. Colleges could cut their administrative staff in half. I keep reading there are more admin staff than faculty. As you say, more government financing, higher tuition. How about putting colleges on the hook for graduating those students, with a return of some significant part of the tuition to the lender for those who don't graduate, as Prof. Reynolds keeps recommending?

    ReplyDelete
  3. So I correct an obvious error and you delete it, Don? That's a stunning commitment to truth you've got there.

    ReplyDelete
    Replies
    1. False alarm. Apologies.

      Delete
  4. And why is college so expensive? It's because of government. As you said, "Quit subsidizing student loans." That is one of the things that has driven up the cost of college.

    ReplyDelete
  5. Like Don, I paid for my education with my DD214. But now I own a company that helps people better manage their student loan debt through existing federal programs. Guess what I tell people starting their college experience: Don't Borrow ANY Money! They are better served going to school part-time, while working full-time and finishing in 6 or 7 years, rather than having to pay on their debt for 25 years. I can make an argument that doing three years in the service to qualify for the GI Bill is a better deal than borrowing. Also, as has been pointed out, government money for student loans only swells the coffers of academia without improving the rigor of the curriculum. I'll stop here and get down from my soapbox now.

    ReplyDelete
  6. Like Don, I paid for my education with my DD214. But now I own a company that helps people better manage their student loan debt through existing federal programs. Guess what I tell people starting their college experience: Don't Borrow ANY Money! They are better served going to school part-time, while working full-time and finishing in 6 or 7 years, rather than having to pay on their debt for 25 years. I can make an argument that doing three years in the service to qualify for the GI Bill is a better deal than borrowing. Also, as has been pointed out, government money for student loans only swells the coffers of academia without improving the rigor of the curriculum. I'll stop here and get down from my soapbox now.

    ReplyDelete