We are fucked in the state of Washington...
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Because in 2008 we(?) told the nation that everyone should go to a 4 year university and if you didn’t you were going to be a loser.
So universities looked at that and said well shit if the Fed is gonna back 100% of the loan and we are on the hook for nothing, let’s get as many art history majors as we possibly can and jack tuition through the roof which we can use to fund building projects or just dump into our PE-managed endowments and watch the money stack up.
There was a time when if the president of UW or Oregon wanted a new building on campus he had to dial for dollars. They still do that but now they use tuition funding to erect their favorite projects, and they can because there is an endless stream of willing participants on the other side, all propped up by the state and federal governments with their billions and trillions of dollars in debt, respectively.We don’t know how to fix a leaky sink or hang a door these days but we sure as fuck can rip a caramel macchiato with those women’s studies degrees. The most predictable outcome in the history of the world were those now-28 year old baristas and uber drivers demanding that their debt be forgiven. If we’d done that how do you think universities would have e responded with tuition adjustments?
I can fucking promise you they would t have gone down, “Mildred”….
How about special federal grants for US Citizens and a massive tax on student visas, while we’re at it. How about a cap on tuition as a percentage of the institution’s per capita endowment? How about state/federal matching for critical skills degrees and apprenticeships? How rules governing how tuition dollars are spent within public universities?
Let the privates do what they want but I don’t really want my tax money being spent on monuments to college admins, via tuition loans or direct tax funding. That money should land with the professors and the students, just like it SHOULD at the K-12 level.
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Same reason people get into credit card debt. "I'll worry about the loan tomorrow."
As a country we've had this attitude that the more who went to college, the better. It's been over encouraged. It never made sense to me and now we have baristas with gender studies degrees when what we really need are plumbers, carpenters, and electricians. I can still remember when Industrial Arts was a required part of coursework in Seattle Public Schools—which I resented at the time by the way, but now see some value in.
This is where government could get involved to incentivize things we do want and disincentivize things we don't need. That used to be mainstream thought in this country, or "uniparty" thinking as you gals call it.
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You are close to the right answer, but deliberately ignoring the part where government brought all this on. If you had to get underwritten for a loan, and the underwriter was on the hook if they never got paid back, the underwriter would charge +20% for a women’s studies degree loan and less than 10% for an engineering degree loan. That is 100% the problem with college, it gets to ignore all market forces because of government.
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I not denying government played a role in all this. Saying that the entire explanation is overselling on your part, but yes, it played a part.
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The free market couldn’t have allowed this to occur. It may have tried in some instances, but ultimately it would have failed decades ago. So yes, government is 100% responsible for this problem.
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The "free market" for admission to spots in state research universities? Your argument is fraught with difficulties.
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I’m talking about the free market on what a loan should costs based on likelihood of repayment. There’s nothing hard to understand there, for some.
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So what’s good for Chase, or Wells Fargo, or BOA is good for America.
Should we just privatize all universities too?
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I’m in favor of them getting a return on the money they have lent out, assuming that they are on the hook for the failures. Them charging a vig with zero underwriting and zero risk where they are purely incentivized on volume I’m against. Same with the colleges. You’re getting buried here fyi.
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Jesus
Mr Honest
