This chart shows that shortly after the start of the Obama administration, the student loans given by the government start to rise considerably. It is currently one of the largest debt categories (see [yourfamilyfinances.com] ). A vast number of those students majored in degrees like black-studies, women-studies, and other programs in which the highest paying jobs available to them are anti-Conservative activists and there are not enough of those jobs to go around so many of the graduates fail to pay back their loans. This is also a way to make Conservatives, who go to college at a lower rate, to help pay the bill for these anti-Conservative degrees. Double whammy. There's a reason why the fist is Blue... the whammies are coming from the Left!
A questionaire for officers during the Obama administration asked "Could you order your men to open fire on US citizens"
What must be remembered is that this information came via the internet so can anyone confirm?
According to the item, those who answered no were replaced.
Federal grants and loans offered to Science, Tech...is money well allocated IMHO. Caveat - before bestowing those grants and loans there needs to be an open and transparent (to the American taxpayer) investigation to determine the worthiness of the entities being considered as candidates before giving them a dime.
The student loan business like the medical business have functioned outside any control system for some time. Any time you have unlimited demand there has to be some sort of means to ration that commodity. With conventional commodities rationing is done by the price increasing until it is balanced with supply. When the government steps in to increase supply there is little incentive to increase efficiency. The control then switches to what tax burden the public is willing to bear. This may seem to not apply to the medical business or education business but you have to remember that that we are taxed not only directly but by devaluation of the currency when the currency is inflated by supply. Because of the way the lending system works the 1.7 trillion dollars in student loans actually has to be multiplied by some factor to reach it's actual inflationary pressure. I would say around 5 but it is hard to calculate. You may asked then why not just pay for college directly which is pretty much what has been done with Medicare and Medicaid. If that were done the money would still have to borrowed but by the government not the individual removing one of the last controls.
The phenomenon of people buying what they want not what they need should not surprise anyone. The average 55 to 64 year old has $104,000 in savings and needs $1,700,000 for retirement. It would be unfair to say that only students are not rationally considering their futures in the decisions they make. The same goes for medicine where elective care that includes unnecessary vists to primary care physicians makes up a considerable percentage of the overall expenditures. It's one of the reasons that the statistics comparing the nominally free U.S. system to public health care systems is misleading. Public health care systems do not offer elective services at nearly the same level driving down the demand as the public adjusts their expectations.
Demand follows effectiveness in the case of medical care because their are objective measures that people can use to determine what services they want. The more effective medicine becomes the more demand. The situation with the medical industry is slightly different. There is no objective measure of educational benefits it is more like the entertainment industry where demand is a matter of subjective choice and pleasure. So medical care is even under the worst of cases controlled by it's effectiveness but education is only controlled by the whims of those who enjoy it. In many ways higher education has become an entertainment business. To attract more business they offer free or nearly free gyms and pools, discount meals, discount housing, free lectures and free musical events, gorgeous buildings and green spaces, discount credit cards, discount Excursions, free sporting events, free clubs, free stuff such as tee shirts to food. They offer every incentive imaginable to increase their market share. Often leaving the student with a mountain of debt for what amounts to four years of near luxury living.
Like most things the answer to the student loan crisis is to change incentives. Because value is abstract the best way to do that is a free market. efficiency is not some cold mindless and heartless beast. The industrial revolution has proven the most effective means every discover to improve standards of living. Unfortunate small minds have taken over the intellectual landscape. The lower IQ careerists dominate all are institutions. They are the administrators and HR departments, the people in the humanities and other low entrance cost fields. They drive up costs by driving up demand with little concern for efficiency and no interest in innovation.
The innovations we need in medicine are automated testing and telecommunication but the money is in doctor visits, testing and perpetual need pharmaceutical. Expensive college campuses should go the way of the dinosaurs. If students want to spend their money on entertainment they should not do so through student loans. A free education superior to what most students get is already available on the Internet. The branding that a college provides is like paying three times as much for the same product because it has a famous logo on it. In education automated testing is the answer to the branding issue. Free or nearly free education could also be provided to employees by way of the Internet.
The problem is a lot of midwits are running our institutions.
It would be a violation of 1A for the government to control what kind of speech, i.e. study, are permitted. Consider that a person with student loans can use it to study medicine... or religion. Physics... or photography. Law... or haircutting.
And the government should have no say that religion shouldn't be allow, but medicine should. Or that Physics should be allowed... but photography shouldn't.
One school of thought is that IF the government were to prioritize student loans, it should be in fields where we have a shortage of qualified candidates and have to rely on H1B visas to supplement the workforce, such as software development.
But the problem there is that it will NEVER be more economical to employers to hire a US-born skilled candidate versus H1B visas as those guys are willing to work for pennies on the dollar. Believe me, I've worked with enough of them to know.
I believe what we should be asking is, "why do we require expensive university degrees for careers that are so low-paying that they have little hope of ever paying such loans off?" I'm going to pick on education here. You mean to tell me that a $35,000/year educator position needs a Masters degree? What is the justification for that? I mean, you just end up handing them school board-approved curriculum and standardized tests anyway, so why the advanced degree?