http://thehill.com/blogs/ballot-box...anders-clinton-hasnt-said-what-i-need-to-hear Why doesn't Bernie tell his supporters that they should work hard and pay for things themselves? Many millions of Americans do that...Too many people in this country think that something should be free... Why does Hillary have to do anything for this loser's "endorsement"? He isn't even in the Democratic Party...
Because the system is rigged. Tuition rises every year while these banks and the GOVT pump out loans they increasingly gain more and more interest on. The next bubble is student loans. Education should not be for profit and in this country that is how it's setup. I am not saying it should be free but it needs to be regulated or subsidized so many average lower then middle class people can afford it. People work hard to survive sadly they can't take on the risk of more payments they may not afford with a job they are not grantee'd to get
Maybe try backing the government out of the problem they helped create instead of forcing more government onto a system that worked just fine for many generations until the govt got involved? Just a thought.
The system worked just fine until student aid became guaranteed loans. Under the student aid frame work the government was looking hard at tuition rates and encouraging colleges to keep the rates down. Under the loan frame work nobody gave a shit about rates except the students and their parents and their voice didn't ring heavy enough in the halls of academia to matter much. If your tuition is guaranteed by loan the path of least resistance is just take the loan and get the degree. BTW, the way that the government was encouraging lower tuition rates was by setting the level of aid available. Then banks would allow you to borrow only so much based on a "no govt guarantee" paradigm. So the amount you could put up for tuition was lower than what you can put up today. Today with the fully guaranteed loans there is much more money available in the system and where there's lots of money prices go up, up, up.
Yes, I misspoke about the nature of the governments involvement. They were involved previously when things were going fine but then they guaranteed the loans and of course then the prices sky rocketed. The government is making a boatload of cash on the deal btw. Seems like a pretty twisted scenario.
The gov't has to make a profit on loans to cover the losses from the debt from many students that won't be paid off (which could be staggering)...
could be but right now they're making a killing. it's the biggest asset of the us government right now.
It's a high risk loan so off course they will be making money. Since it's a high risk loan, only the government could charge interest in the 4-7% range. Our government values a highly educated society as higher levels of education are associated with much lower unemployment and higher wages.
And only the government would be foolish enough to guarantee the high risk loans causing the prices to skyrocket into oblivion. Obviously a highly educated society is desirable. That's not really relevant though.
yes its like 30+% of the government's incoming assets right now. Thats why they aren't going to do anything about it. Tuition rates will continue to go up and student debt will increase. Why would the government want to get rid of this cash cow, especially when they are running deficits and people cry more about taxes than this. At least student loans are voluntary. They get masses of people signing up at age 18 to voluntarily pay the government for their entire adult lives. they'll gladly foot the bill for a few years of college for that.
many private student loans are now in that 4%-7% range. so its not true that only the govt could charge that low interest. government interest rates are increasing too
But they're causing a huge inflation in the cost of higher education and also capitalizing on it. It seems like the government is taking advantage of people rather than helping them. While it's obviously desirable for people to get educated, the government has made that education cost unbelievably high and is leaching on the citizens in the process. That seems wrong. It's not like people weren't getting a college education before they guaranteed student loans. What am I missing?
Idk if you are reading into my post wrong, if I am reading into your post wrong or if I didn't make my point right initially, but I am not disagreeing with you at all. I agree the government should take lots of the blame for this mess but some reason colleges get overlooked in the blame game. Meanwhile you have people that aren't even teaching classes making close to 100K and not just in NY, in places where 100K makes you one of the wealthier people in town. People used to sacrifice high pay in the private sector for the benefits and low pressure jobs in the academic sector. Now they are getting their cake and eating it to, low pressure academic jobs with the high pay. jobs at colleges and universities are the highest sought after jobs now. -- How is this sound for a racket btw... My little sister is still in college. As a part of her curriculum she needs to complete an internship before she graduates. Makes sense right? Well its unpaid of course. That's not very right but okay at least she'll get the college credits she needs. She goes to college 100s of miles away so she planned on doing her internship at home over the summer since she wont be getting paid and needs to live somewhere. Oh wait, the college called and since she's going to be getting 4 credits for the internship she needs to pay for what a 4 credit course costs!!! So she'll be nowhere near the school, not using any of their resources whatsoever, but has to come up with a couple thousand dollars simply so they can have someone put their signature on paper that she fulfilled a requirement that she did for free. talk about bullshit. no wonder Trump wanted to start a university
The problem starts with the narrative that there is a specific college experience that teens with no money should be going broke to experience -- go directly from high school, live on campus, live the movie version of college. There are alternatives, but the problem is they require kids to actually work for them. They don't want to work for them they just want the easiest course -- take the loan, enjoy the experience, and defer the hard work until afterwards. Now they want to complain about having to put in the hard work.
again we blame the poor people instead of the bureaucrats that make out most from the deal... I am shaking my head
