ltbewr wrote:My suggestions are a bit complex but worth considering in how to deal with this growing problem of student loans without being unfair to the overwhelming majority who do pay them back. We shouldn't remove all risk of borrowers from taking one or of lenders taken advantage of.
Limit loans to only tuition, fees and books, not for housing. Some in the Trump Administration have suggested a cap on annual and total borrowings.
Encourage loan takers to go to local community and state run college they can commute to.
Limit or ban use of loans for private, for profit schools but for certain trades like auto repair technicians and only the best run schools.
I would want a limited expansion of being able to use bankruptcy law for those that got taken by for-profit colleges, especially if shut down, have serious mental or physical health problems that limit their ability to be employed.
Loan monies would go directly to the school and a credit with approved sources for books and related materials.
Some of the hard cases are where a woman became pregnant so had to drop out mid-term or out of school totally due to need or due to sexual or other violence. Some allowance should be made with the loan issuer, the student, their family and the schools do limit the damage.
Ban 'athletic' scholarships by all colleges. Make it so scholarships go to scholars, especially with need than for dummies that can play a game.
Have programs and administration at schools to discourage alcohol and drug use that cause too many dropouts.
As others have suggested, limit loans to majors where need and chances of getting a job that can pay the loan back, and educate students as to the real cost of those loans and the reality of the kind of job one can get.
Get the States and Federal government to better fund state schools. Many have reduced state funding to a tiny fraction of need and is offset by higher tuition and fees needing larger loans.
Make the schools a partner in the loans so have to take part of the hit if they are not paid. They could cause them to limit tuition increases and their risk of loss.
You have to keep the athletic scholarships. College sports, football in particular, brings massive amounts of money to the campuses that fund other programs. The television exposure draws kids to these schools. If they want to kill something off, they should dump fake degrees that don’t provide a damn thing for someone looking for a job once they are out. It’s programs such as this where millions of dollars have been spent on future burger flippers and baristas.
I like the idea of limiting loans to education based functions only. This would deter people from a lot of schools they shouldn’t be going to anyway and prevent debt they shouldn’t be taking on.
B777LRF wrote:trpmb6 wrote:Question, how free was your daughter to choose her path of study? If testing said she had an apathy for engineering, would she have instead been allowed to study Biology as it seems she is more excited about (given she is working at a zoo)? I've heard unsubstantiated claims that certain countries may offer "free" (I put free in quotes because in the end we as a society or paying for it in some form) higher education but that it is more guided - directed if you will - towards what your skills are actually grounded in. Think of the book The Giver for instance, although to the extreme.
The only thing that dictate what you can study, is your grades. Thus studying to become a doctor will require a higher average than studying law, which again has a higher average than engineering. And so far and so forth. The subject requiring the highest grade average is presently international business at Copenhagen Business School.
And we're all well aware that nothing is free, and that education is paid for via our taxes. Just like universal health care.
This won’t work here. We have a private/public university mix here. You’re suggesting a system where only the privileged would be able to attend private schools. Our system at least opens the door to those prestigious universities through near zero interest loans. Also, Denmark is smaller than many of our States so I don’t think you quiet understand the scope of what this would mean in the US. We have counties in this country with twice as many people as the entire Country of Denmark. Most States have a junior college system or second tier campus system to set up students for transfer, the tuition at these campuses is generally substantially less and close to where the student lives. In most cases this probably eliminates the room and board issue. Is it free? Not generally, but some States make it nearly free. For a pretty fair number of students it’s not very expensive at all. Maybe $3-5k a year all in.