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01 June 2019


Wayne Hullett

An elegant solution that would actually work, and therefore will never be implemented.

The Estonian Fox

Agree with the comment at 2:38AM. Also agree with that Frenchman who said "It is dangerous to be right, in matters where established men become wrong."--- Voltaire.

But since politicians (government & university administrators all) never admit to being wrong, we are unlikely to see a satisfying solution. Alas, even Dr. Pangloss is a pessimist on this one.

All I know is that I've paid enough to colleges for my own kids. I don't want to pay for yours too.

Bob Hobert

We have a grandson off to Chico State this fall. The university website shows that tuition and books, board and room and a meager spending budget will cost slightly over $25K per year. Part-time jobs, grants and scholarships plus parents', grandparents' and friends' contributions will be essential to avoid taking on crippling student loans. Is that a smart plan, though, if student loans are destined to be forgiven? I think yes. We were able to get his father through Cal Poly with no student loan debt. Took some hard work, but it has paid huge dividends for him and his family. Soon we will be made to pay again, for those who cannot or will not. This seems to be a theme in our current culture.

Bill Tozer

You would think that all those liberal socialist professors would work for free or at least cut their salaries in half.....to make college more affordable or, at the very least, put their money where their mouths are.

The huge increase in the growth of college administrators is a waste of money. Dead weight. Every university is busy building new dorms, more comfortable lounges, more aesthetically pleasing grounds at breakneck speed. All because the student loans come flowing in to pay for the ride. Lizzy Warren got over 300k for teaching ONE class. Yep, for the statists, the system is indeed rigged....in their favor. Some call that elitism.

Is the tassel worth the hassle?


Oh yeah. 50 universities built segregated dorms last year..


So, the "conservatarian" here thinks the way out is to require private and public colleges to guarantee their students' loans.

It wouldn't work and it's unclear to me the Federal Guvmint has the power to require state and local college's to do this.

The shackles of student loan debt will be removed sooner than later... they vote. It's ridiculous that student load debt is not dischargable by a bankruptcy judge and this makes the current $1.5T debt little more than a modern indentured servitude.

No, you won't get colleges across the country to stand behind loans made by others... but if they need to sell seat time in their classrooms because no one will loan them the money at a price they will accept, they can do it the way many 'boot camps' do it... lend them the money themselves and let students pay it back from a defined portion of future earnings in related jobs. Or whatever terms they and their student-customers can agree on.

Disgruntled Studies departments would not thrive.

George Rebane

Gregory 1010am - Not sure about the basis for your disagreement. The federal govt has and can put any conditions it wants for the disbursal of federal funds. In fact, placing such conditions on receiving federal funds has been the main method of arm-twisting that the feds do to supersede local control and/or grow the Leviathan - they take it by force, and conditionally parcel it back.

Again, my approach does nothing to eliminate existing student debt; it only works going forward. And given the risk of losing critical revenues (including closing doors), it is easy to see that we would see colleges stand behind loans made by others. It's all a matter of available alternatives, and it is a mature approach in finance practiced over the ages at all levels.

Bill Tozer

Dr Rebane: That means the parents or guardians co-sign the loans. They are the only ones with collateral.

George Rebane

BillT 1119am - Not at all Mr Tozer. My approach requires only the teaching institution to co-sign or guarantee the loan. It is they who need the students, who teach the students, and who should have skin in the game that the students obtain a valuable and marketable skillset. The parents co-signatures provide none of that, since they are not only NOT "the only ones with collateral", but more likely (looking at the national stats), they have no qualifying collateral whatsoever. Colleges have plenty of collateral in everything from real estate, endowments, regular income streams, ...; but requiring parents to step up would clearly discriminate against the financially marginal families to get their kids educated.

Bill Tozer

Dr. Rebane.

Correct me if I am wrong, but back in the day if a particular college/university had a high rate of delinquency/default on student loans among its applicants above a certain threshold, the institution was sanctioned with less funds available for student loans in the future. Have no idea if that is still the case and have no solutions.

It’s almost hard to believe that government backed student loans were a new thang when my older siblings where graduating from high school. It’s even harder to imagine that until the GI bill after World War II, U of Michigan was considered an “Ivy League” school in status and higher education was not opened up for the common man.

As started before, I have six nephews and nieces that graduated from 4 year universities (4 from Cal) in two years, all under 20 years of age. They were homeschooled and got their requirements out of the way in community colleges as high schoolers. 5 of the 6 got their masters paid for by working doing research for Cornel, VIrginia Tech, or Teach America in the inner cities. The 7th niece had a obscure learning disability that was not detected until she was well into a state university program. She did not have the normal dyslexia....the letters would change shapes as she looked at them. She kept it to herself and self taught herself how to “read”. Amazing. The only reason we found out is when she broke up with her then college boyfriend, he called her parents to say, “There is something about your daughter you should know.” Very thoughtful and considerate of him to do that as he was going his separate way. She graduated from nursing school with high marks. When there is a will, there is a way.

Per usual, the more I dive into a topic, the farther into the weeds I get. No solutions. I do not see the ever growing administrative bureaucracy of universities (or K-12) shrinking in size....unless they are told the party is over and pink slips are passed out. There is a correlation with those crying out for more “affordable housing” and lower cost of secondary education. Don’t see it happening. Your idea is worth a try.

Father Benito

Trump had the right idea with his own University system - until the stinking' lefty's shut him down. He is so smart.

The church has a good system too, patterned after their missionary program where they go to an impoverished shit hole country and promise the brown ones food and medicine if they come to church, give up any beliefs they might have had, and pray to Jesus for the right to their souls. Why not do that here? If students pray three times a day to any given benefactor, they get free education. God willing.


The Snark is strong with this one (225pm).

Perhaps he was dropped on his head as a child.

GR 1109am

It was unclear this was not to be applied retroactively. Yes, going forward that would work if any college would accept money that they'd have to pay back if the student defaulted on the loan.

I doubt any college would, and we're back to closing doors to college education for many, not that it's necessarily a bad thing... after all, a strong back is a terrible thing to waste.


Not to be ridiculous, but if higher ed could manage with fewer useless eaters (admin types) and fewer dilettante profs (like Fauxko) they could reduce tuition back to sane levels and loans might not be needed as much.


By prominent example, U of Gangland had Michelle O on board as staff at 400k/yr, a position so important that when she and the ex-senator decamped for the Potomac, they didn't bother with a replacement. Wonder how many thousands of such are scattered about in our fair land?

George Rebane

L 650pm - Agreed, and that was the intended point of my solution for the future of student loans.

Scott O

Father Ben - "...give up any beliefs they might have had,"
You mean like raping young virgin girls to cure themselves of aids, or cutting up albino children for magic charms, or mutilating girls' genitals?
They have to give up those proven scientific solutions in order to get food and medicine?
Say it insn't so!

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