Hold Colleges Responsible for Borrowers Who Don’t Make Payments
April 30, 2022
Come on, man. I feel for those who have student loans they can’t repay. But I don’t want to be the one paying off the loans.
The above data is from 2021.
Isn‘t the straight forward answer to make it the institutions’ problem? I like what this article suggests:
In the current higher education financial system, colleges have to meet very minimal standards to keep receiving federal student loan money.
If colleges were on the hook for debt that didn’t get repaid, they would have a huge incentive to help students find jobs and to make sure they were prepared as they entered the workforce. Such a system might also be the end of predatory for-profit colleges.
If colleges had skin in the game, the price of school might more accurately reflect the value of the degree. It would be a win for all students.
After a week of nothing but blue skies (“I can see clearly now”), it is going to be partly sunny here today. What am I to do!
It really is a treat to cook breakfast.