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re: "Travel enthusiast” is grateful his student loans are forgiven
Posted on 4/16/24 at 10:12 am to DakIsNoLB
Posted on 4/16/24 at 10:12 am to DakIsNoLB
quote:
I don't think you're entirely wrong; tax payers are paying for state contributions now as they were then, but the cost is seriously out of whack now. They need to seriously reduce the amount of loans they give out and the amount enrollees. That may sound like I'm trying to limit freedom of choice, but this country has already seen what unrestricted lending did to the housing market and the overall economy with the collapse in 2008. I'm all for a better educated population, but not at the cost we are seeing, and we are not necessarily better off for all the "educated" people who didn't get useful degrees.
I agree and you are correct. The main thing that drives the cost of higher education today is salaries. 70% of most higher education budgets are salaries. The main drivers of cost today are the following: reduced state support of institutions, cost of living adjustments and merit raises for employees, federal regulations, and regulations forced by accreditation. There are many things that can be looked at to reduce the cost to students to make loans more meaningful than they are today.
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