This whole student loan scam is worse, much worse than the mortgage crisis from 07/08, and it's been going on much longer. 18 year olds being duped by unscrupulous admission reps who are not giving them the full details of what happens when college is over and the loans are due. Will they be held accountable, or given a pass like the banks? Taxpayers bailed them out, who's next up. What needs to happen is the schools themselves should be responsible for these debts. They originated the scam to begin with, it's on them.
I'm saying since the schools are the beneficiaries of this money and they are facilitating the loans through their admissions departments that they bear at least some responsibility for these loans down the road, considering they're not being totally honest or forthcoming about the entire process. They also set the ridiculously high price of tuition which has gone through the roof over the past 30 years while at the same time the quality of education has gone down.Aren't most loans offered by 3rd parties such as Sallie Mae (or whatever new name it became) or other lending institutions? I did not get a dime from the school, I just filled out the financial aid forms and dealt with 3rd parties. The school just wanted to get paid.
There are some ugly truths about our post secondary educational system that need to be addressed before any serious discussion about loan forgiveness can begin. Number one being the overall cost in and of itself. As you state there are far too many programs which take much too long to complete. It's just putting a body in a chair for an extra 2-3 years and for what? Money of course. Another thing, more of a societal issue, is that most 18 year olds are not mature enough to enter the workforce. College has become little more than a daycare center used to house these adolescents as they transition into adulthood with the hope that by the time they're 22 or so they will at least be responsible enough to show up on a daily basis to some entry level job. We need more entry level apprentice type positions for 18 year olds who aren't interested in college. If people want a government subsidy, subsidize that. This type program should cover more than the trades, it could cover every job, any job.Education is a scam in a sense.
You don't need 3-4 years to learn, say programming. You could learn a computer science course in a year, or 2 max. Anything more than that is just money sucking business.
The world has made you to believe that knowledge and education could only be obtained when you attend a school/university.
Companies should stop giving privilege or priorities to those who graduated from universities, instead employ those who could prove they own the skills.
Education is a scam in a sense.
You don't need 3-4 years to learn, say programming. You could learn a computer science course in a year, or 2 max. Anything more than that is just money sucking business.
The world has made you to believe that knowledge and education could only be obtained when you attend a school/university.
Companies should stop giving privilege or priorities to those who graduated from universities, instead employ those who could prove they own the skills.