ChairmanOfTheBoard wrote: ↑Mon Feb 11, 2019 10:10 pm
question- without any judgment as to whether .gov should pay for college or not,
let's say we go this way. won't that likely result in many, many more college grads, competing now for less jobs, and then the ones lucky enough to get jobs will be unsatisfied/unfulfilled as they are now, exacerbating the problem?
Devil's advocate - we're already doing this to a huge extent with .gov student loans - a huge problem on top of what you listed is that a lot of kids are now in loans they can't default on and are owing money to the Fed as nearly indentured servants. We need to get out of the loan business, although we may take in money on the loan business side, it seems to lose money on the overall economy side.
Here's my solution:
Personally I think free 2 year community colleges are the way to go with an emphasis on trades and STEM. If kids want to then finish out another two years at a State or Private University for a Bachelor on their own or private (defaultable) loan dime, then more power to them. Universities are still eligible for federal research grants and GI bill funds.
Students would get free no-interest loans for a certain number of credits to a local community college to be completed within 2.5 or so years. If they don't earn the specific degree or certification within that time, they owe that tuition back - it's an incentive to graduate. There would be a maximum amount loanable per year at current median of community college costs then tied to inflation so you don't get ballooning tuition costs like we have now. That means a lifetime loan currently at about $9600, nowhere near what kids are currently getting in debt for four year colleges on the .gov loan system.
I'm sure it's not perfect, but it seems better than what we have now.