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OFF-TOPIC an end to the college student loan fiasco?

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ironman150

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
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Jun 22, 2017
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This is NOT Fastlane or Unscripted but I think would solve a big problem we have in todays society.

Someone poke holes in this please.

The idea: On every loan that is needed for higher education, make the colleges themselves be the automatic co-signer on the loan.

I believe a few things will happen quickly.

1) colleges will change from a "soak up all the cash they can per student" to: graduate as many students as they can into profitable jobs (yes i said jobs...i did mention this was not MFS-or-Un-S).

2) college tuition will drop like a Chinese satellite on Easter weekend.

3) banks would actually care about who they gave loans to and for what degrees the money is getting spent on.

4) banks would look at both the student AND the college. Not only credit worthiness but the % of students who graduate from that school in the field they received the degree in (the school has to actually be a good one). I believe banks would give fewer loans so colleges would be forced to pull out all the stops to make tuition as affordable as possible and eliminate most (if not all) "liberal" degrees, or, close their doors.

1 rule: no taxpayer funds can be used to backstop the failing colleges.

What say you?
 

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ApparentHorizon

Platinum Contributor
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Apr 1, 2016
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What say you?
Waste of brain power to even skim the premise of this idea.

You can't make anyone do anything.

If you've seen the great posts on here from the last year, in terms of sales and persuasion...

You can nudge people to take action by providing what they are looking for, in the first place.

There's a startup/university (the name escapes me) that trains students to fill highly specialized roles. Most of which come with great pay and benefits. The company/school, therefore, has a vested interested in everyone's success.

There's a need for better educational paths that lead to a worthy career.

There's a need for companies to find the right jigsaw pieces quickly.

There's no need to force someone to change.
 
OP
OP
ironman150

ironman150

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Jun 22, 2017
83
152
142
50
GREEN BAY WI
Waste of brain power to even skim the premise of this idea.

You can't make anyone do anything.

If you've seen the great posts on here from the last year, in terms of sales and persuasion...

You can nudge people to take action by providing what they are looking for, in the first place.

There's a startup/university (the name escapes me) that trains students to fill highly specialized roles. Most of which come with great pay and benefits. The company/school, therefore, has a vested interested in everyone's success.

There's a need for better educational paths that lead to a worthy career.

There's a need for companies to find the right jigsaw pieces quickly.

There's no need to force someone to change.
Currently every school has a vested interest in getting as much tuition as they can for as long as they can. The banks don't care because no student can get out of these loans even through bankruptcy. This "waste of brain power" turns our higher education institutions from leaches, providing very little value, into places that need to give high value just to remain open.

you didn't poke any holes in the idea.
 

ApparentHorizon

Platinum Contributor
Speedway Pass
Apr 1, 2016
945
2,767
653
Greenville, SC
Currently every school has a vested interest in getting as much tuition as they can for as long as they can. The banks don't care because no student can get out of these loans even through bankruptcy. This "waste of brain power" turns our higher education institutions from leaches, providing very little value, into places that need to give high value just to remain open.

you didn't poke any holes in the idea.
No need to poke holes. I agree with your original post.

The hole you're looking for isn't in the idea. It's that neither you or I are going to make that happen. No amount of protesting, writing your congressman, or any shoulds and coulds, is going to change it.

The way you knock down entrenched institutions is to invent something better. Just a couple of decades ago, physical newspapers ruled the world. Now they're nowhere to be seen.

The better question is, what can we come up with?

My money is (literally) on the gig-economy.
 

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