Wednesday, September 28, 2016 • Afternoon Edition • "Magneto was right."
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Warren: Student Loans Should Have Same Rate Big Banks Get
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Hey you! Reader! Want to be a part of the GREATEST COMIC BOOK AND GEEK COMMUNITY on the web?! Well, they're not accepting new members, but we'll take anyone here, so why not sign up for a free acount? It's fast and it's easy, like your mom! Sign up today! Membership spots are limited!*
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This is all entirely irrelevant to the interest rate. Hab |
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Rock |
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If you don't quote anyone you're having a conversation with yourself genius. Hab |
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Rock |
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Because only maybe 3 were having a conversation buttercup. Hab |
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Yup, I still have to file my forbearance request. |
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The catch would be a lot less people going to college, since the banks & private colleges would offer significantly less student loan options (no high interest = no $$$$). That would mean the government would have to subsidize student loans and the amount of eligible students will fluctuate significantly, depending upon the political winds. The biggest change is re-educating high school students and their parents that college is not the sole option to a successful and lucrative career. (Some might claim it's no longer a valid option, lol.) |
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You're proposing an educational inflation. Instead of everyone having the right to a high school degree, now it's going to be a bachelor's or associate's degree? I don't know that you're wrong, but I don't know if it's right, either. Until we can have a truly merit-based society (which is nigh-impossible in a capitalistic setting), there has to be some type of distinction to qualify people for particular career paths. I'm not smart enough to know any other method than "You want this? You gotta buy it." 
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i'm not saying it should be free... but it shouldn't cost as much as it does right now to get a degree, or a certificate from a trade school... |
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You could design a program that works for trade schools as well. It could also be set up that it's in the banks best interest to give out the loans, there isn't the same risk associated like there was with the housing market. Hab |
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Trade schools seem to have a significantly lower number of potential drop-outs/fuck-ups than the broader college system. The risk isn't the same as with the housing market, but there's still a great amount - not every student is going to pay back their loans *OR* the banks make the application process more rigorous. The problem is that while people have the option to rent property versus owning a property, there isn't a direct correlation for the educational/job market. The traditional blue collar/white collar situation simply doesn't exist and we have people with Master's degrees making $40k per year. There's no established formula for success--rather, the established formula has proven to be wrong. I think it's finally falling upon the colleges and universities to prove their institution's worth. I'm still more than a decade from sending a child to college, but I can't say I have faith that a degree will be worth the investment. |
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Wouldn't lowering the interest rate make it easier for students to repay? It's not like banks aren't passing the loans out like candy right now. Hab |
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Easier, yes. But the type that won't repay their loans won't care if they're paying 0.5% interest or 6.75% interest. /classist'd //maybealittleracisttoo'd? What the hell is wrong with the cat in your avatar? |
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