Thursday, August 13, 2015

Student debt: the wrong solution

I’m supporting Hillary Clinton for president, but I’m not getting behind her recently announced $350 billion plan to get kids through college without piling on the student debt.

The essence of her plan is to throw federal aid to colleges so that students don’t have to borrow money to pay for a degree.

This approach does nothing to investigate and reduce the cost of a degree. It costs too much at too many colleges to finish the degree program. That burden must be changed.

We need to show students how to attend colleges that cost less than average. We need to stop giving federal aid to students who attend colleges with outrageous costs and poor graduation rates. We need to figure out how to offer the essentials of college degree work without paying $50,000 or $60,000 a year.

And by the way, Yahoo Finance makes an interesting point here. Much of the nation’s $1 trillion in student debt is held by graduate students, many of whom are on the hook to pay off more than $100,000. What are they thinking?


Copyright © Richard Carl Subber 2015 All rights reserved.

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