Should Universities co-sign student loans?

[kyzr]

Tucker had a good idea today. Kids today have to many student loans ($1.5T) that they can't handle, for whatever reason. Many don't graduate, they can't marry, they live with their parents, they don't get good paying jobs, and their student loans stay with them forever, until paid in full.

Why? Because the colleges have lobbyists that wrote the student loan laws. Colleges raise tuition, they expand and build massive new campuses, and the kids need to pay and pay. Its basically extortion since the colleges have no risk. They get paid up front, if the kid flunks out, too bad, there are lots more who want in. Many have $billion "endowments" that are tax free hedge/slush funds. Put that money to use!!

Suppose we make the colleges have skin in the game. The colleges need to co-sign the student loan. If the kid fails they lose money. It would be in their interest to minimize risk, and get the dropouts job skills to repay their student loans. Universities would become career training centers instead of academic black holes we throw money in. (Art History degrees anyone??)

Lets take a poll....

 

[Missourian]

Colleges know a losing bet when they see one...

Students Know Less After 4 College Years

 

[mudwhistle]

Tucker had a good idea today. Kids today have to many student loans ($1.5T) that they can't handle, for whatever reason. Many don't graduate, they can't marry, they live with their parents, they don't get good paying jobs, and their student loans stay with them forever, until paid in full.

Why? Because the colleges have lobbyists that wrote the student loan laws. Colleges raise tuition, they expand and build massive new campuses, and the kids need to pay and pay. Its basically extortion since the colleges have no risk. They get paid up front, if the kid flunks out, too bad, there are lots more who want in. Many have $billion "endowments" that are tax free hedge/slush funds. Put that money to use!!

Suppose we make the colleges have skin in the game. The colleges need to co-sign the student loan. If the kid fails they lose money. It would be in their interest to minimize risk, and get the dropouts job skills to repay their student loans. Universities would become career training centers instead of academic black holes we throw money in. (Art History degrees anyone??)

Lets take a poll....

Only poor black kids should be allowed in college in America.

 

[MarathonMike]

The top colleges are totally taking advantage of their positions.When everyone wants to join your club, you can charge whatever you want. That doesn't mean they should, but they do. At big division I schools, their basketball and football programs are essentially pro sports but they don't have to pay the players. What a deal! They can pay for that snazzy new basketball complex through the jacked up tuition and ticket prices and don't pay a cent to the players who are filling the seats. What a racket, how do I get some of that action?

 

[Flopper]

Tucker had a good idea today. Kids today have to many student loans ($1.5T) that they can't handle, for whatever reason. Many don't graduate, they can't marry, they live with their parents, they don't get good paying jobs, and their student loans stay with them forever, until paid in full.

Why? Because the colleges have lobbyists that wrote the student loan laws. Colleges raise tuition, they expand and build massive new campuses, and the kids need to pay and pay. Its basically extortion since the colleges have no risk. They get paid up front, if the kid flunks out, too bad, there are lots more who want in. Many have $billion "endowments" that are tax free hedge/slush funds. Put that money to use!!

Suppose we make the colleges have skin in the game. The colleges need to co-sign the student loan. If the kid fails they lose money. It would be in their interest to minimize risk, and get the dropouts job skills to repay their student loans. Universities would become career training centers instead of academic black holes we throw money in. (Art History degrees anyone??)

Lets take a poll....

Interesting idea, but I don't think it would work. Universities and colleges would just be assuming bank or government loan risk. They would raise tuition to cover the cost of defaults. Federal and state financial aid would increase to cover cost increases.

Yes, colleges could assume more responsibility in career guidance and helping dropouts get jobs which would increase the cost of a college education and might have positive effects. However, that's not the main problem. Kids go to college when they are 17 or 18. They are teenagers. Most of them are unsure about both their career goals and their major which is why most of them change majors, usually after 1.5 to 2 years in college which means it takes 5 to 6 years to get a 4 year degree. In many cases, it would be far better if these kids got a job for a year or so before starting to college so they might mature a bit more and got idea as to what they want to do with their life.

The statistics on college loans shows that most defaults occur with student with small balances, less than $3500. Most students with large balances attain their degrees and get jobs. They don't default but they live in poverty for years until their pay increases.

One thing colleges could be doing is counselling students with college loans. In most school, students get at most 4 hour session on college loans during freshmen indoctrination which they promptly dismiss.

 

[Marion Morrison]

Great idea!

 

[Flopper]

17 or 18 is too young to assume the cost and responsibilities of going to a 4 college. What most students should be doing is spending their first 2 years in a community college. They can get just as good an education at a fraction of the price. That will give them a few years to mature, learn more about life and hopefully what they want to do with it.

 

[Thinker101]

Tucker had a good idea today. Kids today have to many student loans ($1.5T) that they can't handle, for whatever reason. Many don't graduate, they can't marry, they live with their parents, they don't get good paying jobs, and their student loans stay with them forever, until paid in full.

Why? Because the colleges have lobbyists that wrote the student loan laws. Colleges raise tuition, they expand and build massive new campuses, and the kids need to pay and pay. Its basically extortion since the colleges have no risk. They get paid up front, if the kid flunks out, too bad, there are lots more who want in. Many have $billion "endowments" that are tax free hedge/slush funds. Put that money to use!!

Suppose we make the colleges have skin in the game. The colleges need to co-sign the student loan. If the kid fails they lose money. It would be in their interest to minimize risk, and get the dropouts job skills to repay their student loans. Universities would become career training centers instead of academic black holes we throw money in. (Art History degrees anyone??)

Lets take a poll....

Career Training Centers? Boy howdy, they've got a long way to go before they actually train someone. Only thing colleges seem to train you for these days is the next class.

 

[Thinker101]

17 or 18 is too young to assume the cost and responsibilities of going to a 4 college. What most students should be doing is spending their first 2 years in a community college. They can get just as good an education at a fraction of the price. That will give them a few years to mature, learn more about life and hopefully what they want to do with it.

Hmm...well considering Democrats want 16 year olds to vote, they should get some idea of how to handle debt.

 

[Timmy]

Why are student loans to private colleges exempt from bankruptcy? That’s bullshit .

 

[Flopper]

17 or 18 is too young to assume the cost and responsibilities of going to a 4 college. What most students should be doing is spending their first 2 years in a community college. They can get just as good an education at a fraction of the price. That will give them a few years to mature, learn more about life and hopefully what they want to do with it.

Hmm...well considering Democrats want 16 year olds to vote, they should get some idea of how to handle debt.

I don't know about that but most kids 17 or 18 year-olds are not ready to go off to college. They have never lived away from home, never had a bank account, had to manage money, or even manage their time. The first two years of college is often a life learning experience in how live on your own without parents. Unfortunately that often does not translate into academic success.

 

[Thinker101]

17 or 18 is too young to assume the cost and responsibilities of going to a 4 college. What most students should be doing is spending their first 2 years in a community college. They can get just as good an education at a fraction of the price. That will give them a few years to mature, learn more about life and hopefully what they want to do with it.

Hmm...well considering Democrats want 16 year olds to vote, they should get some idea of how to handle debt.

I don't know about that but most kids 17 or 18 year-olds are not ready to go off to college. They have never lived away from home, never had a bank account, had to manage money, or even manage their time. The first two years of college is often a life learning experience in how live on your own without parents. Unfortunately that often does not translate into academic success.

I'm with you on that, heck, even 24 may be too young these days.
16 year old vote - Bing video

 

[Flopper]

Why are student loans to private colleges exempt from bankruptcy? That’s bullshit .

Because the bankruptcy law was changed in 1976 to make student loan debt non-dischargeable in bankruptcy. So even if you declare bankruptcy, your student loan debt with be there. It will follow you to your grave. When freshmen sign that agreement, they have no idea what they are getting into.

 

[Bootney Lee Farnsworth]

Tucker had a good idea today. Kids today have to many student loans ($1.5T) that they can't handle, for whatever reason. Many don't graduate, they can't marry, they live with their parents, they don't get good paying jobs, and their student loans stay with them forever, until paid in full.

Why? Because the colleges have lobbyists that wrote the student loan laws. Colleges raise tuition, they expand and build massive new campuses, and the kids need to pay and pay. Its basically extortion since the colleges have no risk. They get paid up front, if the kid flunks out, too bad, there are lots more who want in. Many have $billion "endowments" that are tax free hedge/slush funds. Put that money to use!!

Suppose we make the colleges have skin in the game. The colleges need to co-sign the student loan. If the kid fails they lose money. It would be in their interest to minimize risk, and get the dropouts job skills to repay their student loans. Universities would become career training centers instead of academic black holes we throw money in. (Art History degrees anyone??)

Lets take a poll....

Well I agree that colleges are ripping people off with their shit programs, I cannot advocate being a statist and making universities wipe the ass of adults making stupid decisions. I will not support it. It is a good idea though.

 

[Silhouette]

I think th DNC should be made to co sign student loans. & when dems try to sweeten the voting pot by enticing young people to vote democrat, the DNC co-signing those loans should become a televised debate question.