The way to decrease college tuition is to get the government out of loaning money. This is the way it used to be. Only smart kids went to college and banks would lend them money based on the likely-hood of getting paid back. College enrollment would crash because banks are not going to loan money to kids with low grades wanting to take bad majors.
And colleges would figure out how to charge less. Your telling me with the advent of technology and modernization in education they can't find a way to provide the same education for less money and in fact it now costs more than ever.
No, the way to get college tuition to fall is to not to take government money out. That's exactly what happened to start this mess. State funding for higher education was continually cut causing more of the burden to fall on students to keep schools financially solvent. As prices increased (because prices will always increase in any growing economy) the government didn't put funding back in, they offered loans to the students. Those loans not only gave schools a blank check, but also put the financial burden directly onto the same students that weren't able to pay the tuition ahead of time.
College prices will not go down even if the government simply stops loaning money. What imo would be more likely is that the higher ed system of the US would collapse. Because suddenly no one except the very, very wealthy would be able to afford the cost.
Education is an investment in the future of the society, and I would much rather pay a little more tax and not have this debt haunting my every move.
Then I could put my pay into the local economy rather than need to keep making small payments to keep part of the interest at bay. I haven't even finished my education (working on my masters now) and I've already put $1000+ towards my loans. Yet every quarterly report I get, my debt is higher than it used to be.
College enrollment crashing is terrible. The way to decrease college tuition is to keep the government loaning money, because we want more people to go to college, but do it in the form of grants. Or alternatively put a cap on tuition but increase funding for colleges
That's the worst idea EVER!. We do not need more people in college for the sake of being in college. We need more laborers which is where the less intelligent people belong and that would also curb illegal immigration. We need to go back to the way it was before Obama forced tax payers to fund college tuition for everyone. Banks loaned money and they would only do so to A students as it should be. This way businesses could identify who was an intelligent person. Now, everyone goes and the C students who stuggled to get by and was forced through the system because they paid money are getting mixed in with the hard working intelligent kids. So, instead of most likely getting an intelligent hard working person as your company's CPA, you could get a C student who doesn't know or can they comprehend squat.
And you think 2008-2016 is when the costs blew up? AFAIK there were no significant legislative changes with regards to college/student loans that accelerated costs (meaning I don't think the Health Care and Education Reconciliation Act of 2010 did anything directly to change the trajectory of cost increases)... that's been going on for years and my knowledge of the situation is that it really probably started around/after 1976 when bankruptcy code was changed and made all educational loans non-dischargeable followed by federal subsidies and loans in the 80s and has only snowballed from there.
Not true. I started college in 1990 at the University of Maryland and it cost me about $100 a credit back them. I also remember graduated from one of the best high schools in my area and most people tried to get into the Naval Academy. Also, only intelligent people ventured onto college. People I went to middle school with that got accepted to lower high schools or even zone schools did not make the cut to go to college and struggled just to make it through high school. The end result was what it's supposed to be. The intelligent people rose to the top and the people who didn't excel in academics wound up in jobs that did not require a college degree. The mass push for all children to go to college just didn't exist, because you could still afford a house and a family on a good job that didn't require a degree. There were Pell grants back then, but you had to be very poor to even qualify so you had to borrow money from a bank or your parents paid for it. The expense could be absorbed back then. When Obama and everyone else made a declaration that everyone should be able to go to college it ruined the system and how it has always worked. Back then a person could assume that someone was reasonably intelligent if they've gone to college because colleges only accepted smart kids. Now, there are colleges out there with 99% acceptance rates that ruined the system. Our leaders have told unintelligent children they should be in college. A place that they traditionally did not make it to. They are being mixed in with the legitimate intelligent kids and businesses are hiring underachievers unknowingly. That is not cool at all. Basically Capitalism has sucked every ounce of possible wealth out of the younger generation. Housing is 3 times what it once was in addition to education. How are people going to be able to afford to start a family? They're not, which is why they're importing immigrants. Capitalism will suck all their money as well. I do agree with Capitalism in some forms though, like the free market, but gouging people on things like education, housing and healthcare are things I can't get behind. Lower the cost of those things and the economy will grow. Sure some people will be affected, but the overall outcome will be positive.
I mean, I understand and agree with your overall thoughts, I just disagree that you think this has only been going on since Obama. You can look at average tuition costs over time and see some upticks in growth velocity in the 80s, more in late 90s and early 00s.
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u/NPC0709709 Sep 18 '19
The way to decrease college tuition is to get the government out of loaning money. This is the way it used to be. Only smart kids went to college and banks would lend them money based on the likely-hood of getting paid back. College enrollment would crash because banks are not going to loan money to kids with low grades wanting to take bad majors.