A system that gives any 18 year old who gets admitted to college government backed loans with nothing but a social security number could never work. The only people that benefit from this system are the colleges and the loan companies. The students get the worse of the deal. They have to leverage their financial future on the strength of their education. So if they can't get a job that pays for their loan does the government help them, does the college help them, does the loan company help them. No. We have an economy where a college degree is no longer as valuable as it once ways but costs 10 times more than it once did. And it's a trillion dollar system.
I'm down with a complete overhaul and reset. Forgive all the loans but also stop giving new ones and directly subsidize college for worthy students with a need.
I'm down with a complete overhaul and reset. Forgive all the loans but also stop giving new ones and directly subsidize college for worthy students with a need.