MAGA: Holding Colleges & Universities Accountable for Student Loans

Just saw this article in Wall Street Journal saying Trump might sign an executive order requiring colleges and universities to take a financial stake in their student's ability to pay their government loans back.

White House Might Pook Schools on the Hook for Student Loans

In the administration’s budget proposal released Monday, officials made brief mention of a “request to create an educational finance system that requires postsecondary institutions that accept taxpayer funds to have skin in the game through a student loan risk-sharing program.”

Basically, the schools would be on the hook for student loan defaults.

We all know a big component as to why college education has ballooned is because of easy student loan financing without regard to ability to repay. By forcing schools to share in the risk, it makes them more accountable to ensuring tuiton is reasonably priced and that their graduates are capable of getting gainful employment so that they can pay back their loans.

I could get on board with something like this... I'd prefer govt not be involved in student loans at all. The private market would institute much more common sense underwriting and accomplish the same thing.

originally posted by: Edumakated

We all know a big component as to why college education has ballooned is because of easy student loan financing without regard to ability to repay. By forcing schools to share in the risk, it makes them more accountable to ensuring tuiton is reasonably priced and that their graduates are capable of getting gainful employment so that they can pay back their loans.

I could get on board with something like this... I'd prefer govt not be involved in student loans at all. The private market would institute much more common sense underwriting and accomplish the same thing.

Add in crazy interest rates that is based on a payment plan that you can never pay off...kind of like paying the minimum on a credit card with 50k balance. Then they offer 100 different degrees with a good number not worth anything in the job market. They will make a degree for anyone and not everyone should go to college.

How about if Trump says colleges should pay all interests.

a reply to: Edumakated

He needs to hold high schools accountable too since they push kids into college unprepared.

originally posted by: Bluntone22
a reply to: Edumakated

He needs to hold high schools accountable too since they push kids into college unprepared.

Schools teach people how to be good wage slaves and follow the rules, they don't really offer career advice tailored to the individual, that's the parents job ,parents need to be far more active in helping guide their children into life as a working adult.

originally posted by: Bluntone22

He needs to hold high schools accountable too since they push kids into college unprepared.

But it is at the college level they do it all for profit and basically they tell these kids their degree will get them a 100k a year job, and the kids gets 60k in debt and finds out his degree gets him head fryer at BK. If a degree is too hard for someone they make one that they can do with zero alignment with the job world. I tell my boys that if by their junior year companies are not going after them then they are not in a degree anyone wants.

I think it would be a good idea to force colleges to have some investment in the students education. Maybe they would stop brainwashing the kids to believe they will be making big bucks with a degree from their colleges. So many college students are dragged into debt by college personal, stuck in a curriculum where there are no jobs. I spent a year in college taking stuff I did in Highschool, I had all the highest high school classes. You couldn't test out of English in college nor can you test out of basic biology. I tested out of most all the math and chemistries and sciences though. Of course I was forced to take PE so I took archery and some other stupid pass time. College bored me, I know it was free for me to go, but someone paid for it. It was not free.

So, if colleges have some liability they will not lead kids on who have no chance of ever paying back the money I hope.

Pass this law.

a reply to: rickymouse

Agreed. This law should've been passed decades ago. Everyone knows that student loan programs are a scam... except highschool kids.

It's a giant, inescapable trap.

a reply to: Edumakated

Damn, that's pretty awesome. Watch tuition fees suddenly plummet within a year or so after.

The so called higher education system is a bunch of crap anyway, you need a degree to get a job even if your degree is not in the field you work in.
People who are more qualified by experience are passed over because someone else who has a degree in art science gets an engineering just because of that paper that they spent incredible amounts of money on.

a reply to: Edumakated

This will end up being called racist by liberals.

originally posted by: OccamsRazor04
a reply to: Edumakated

This will end up being called racist by liberals.

Can anyone on this site, or any other, name something that a liberal cannot call ‘racist’?

Anyway, maybe those degrees in liberal arts will be advertised as ‘meaningless’ from now on? Because they are.

And speaking of a parent’s responsibility, if your child thinks democratic socialism is a wise idea, you’ve failed as a parent. That’s another thing the schools will suddenly stop promoting in the classroom. Any and all socialist programs because , good luck if you want to earn money in that field.

(Bernie is a capitalist, 100%)

Banks and universities should be held accountable. Further education is based on high school academic achievement for fields that require further education.

Furthermore, cut out classes not required at all for the field. Do college level folks still have to do some stupid physical education crap? Further education is not a system to further some “professors” who teaches “stay fit by walking” bank account.

Further education has turned into big business.

Everyone goes to college, whether they should or not, and everyone gets student loans.

Blue collar jobs and tech schools are looked down upon even though they are some great paying jobs.

originally posted by: hopenotfeariswhatweneed

originally posted by: Bluntone22
a reply to: Edumakated

He needs to hold high schools accountable too since they push kids into college unprepared.

Schools teach people how to be good wage slaves and follow the rules, they don't really offer career advice tailored to the individual, that's the parents job ,parents need to be far more active in helping guide their children into life as a working adult.

There has to be a balance for that. If you're talking about preparing people, what are you going to do with an able kid whose parents don't know squat about job and career prep or management?

a reply to: ketsuko

Unfortunately for the child if the parents don't know squat the schools will just churn out another drone, the picture of the meat grinder from pink floyds the wall is disturbing but accurate depiction.

originally posted by: JHumm
The so called higher education system is a bunch of crap anyway, you need a degree to get a job even if your degree is not in the field you work in.
People who are more qualified by experience are passed over because someone else who has a degree in art science gets an engineering just because of that paper that they spent incredible amounts of money on.

An engineering firm that hires someone with no experience because they have a degree in art science is destined to go under from lawsuits. Their buildings or anything else they design and build will be substandard and fail. Kids with an art science degree typically end up working at McDonald's. Hence the point about these colleges offering degrees like that which they know will do the student no good.

Normally I'm against government regulation but in an instance like this where the government is directly involved in the loans, of course they should have some say in how the colleges conduct business. Either get us out of the student loan business altogether or these colleges need to start taking some responsibility for these kids spending 4 years there and leaving totally unprepared to support themselves, much less a family.

a reply to: hopenotfeariswhatweneed

" Schools teach people how to be good wage slaves and follow the rules, they don't really offer career advice tailored to the individual, that's the parents job ,parents need to be far more active in helping guide their children into life as a working adult."

Excellent Post , short and making Good Points

A+