re: WSJ: student loans restrictions coming for schools with bad graduate repayment data

The federal government shouldn't be in the student loan business to begin with. Get rid of it and watch tuition prices nosedive.

Some kind of combination of value based loan restrictions (i.e. restricting funds for poor performing colleges/universities or restricting funds for degrees with poor payback), along with possible caps for said degrees/colleges would help greatly.

Everyone should have an opportunity to have education and advance themselves especially from poor or middle class families. However, you shouldn't have free range to go 200k in debt for an art degree to go work at Starbucks and expect the govt to pay it off because oops.

Some may say that the above is picking winners and losers. But the general populace is stupid, so Some direction into careers that are either nationally needed or have higher success rates is warranted if taxpayers are backing it.

You want to pursue something riskier, then get an education on your on dime or private backed loan if you can find someone dumb enough to loan it to you.

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It should be based on market need across the board. Taxpayers shouldn’t have to finance your fricking arts degree.

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Arts and Gender Studies are remarkably cheap compared to STEM degrees. Charge less tuition for cheap degrees like art degrees, problem solved.

This should be extended to college majors also.

WINNING!

Schools with high tuition and useless majors will get killed.

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If the gov’t stopped guaranteeing loans (which I fervently support that they cease), then the bloated academia/admin will go the way of the dinosaur.

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So what are you going to about the American business climate? For the last 30+ years business has shifted to require degrees for just about everything. They did this to eliminate the need for training and true internship. And it’s way cheaper to have the employee take on the training and prep expense. Because then you have the conundrum of spending money training an employee and then worrying about how to keep them.

If you make college unaffordable, it may one day correct the issue, but are you also going to make businesses change too?

It’s a shitty problem we’ve caused for ourselves.

Love what I am hearing so far - I have always advocated that only the Universities themselves should finance those student loans - they know what they are teaching and whether or not it is worth the cost of the tuition. Let THEM monitor that student's progress and determine if the investment is worth it.

Any of these 'art majors' who take minimum hours for six years is a BAD investment for someone who expects them to pay it back. The university is the one who controls all that - let them make the determination if what they are financing is worth the risk.

If the "juice is not worth the squeeze" - then don't lend them the money in the first place.

Well, of course not. This (debt forgiveness/default) is likely considered ok because of the reparation-minded folks leading it.

They should end student loans and require two years of federal service, with pay (min wage) to get 4 years of college payments. This would delay the people going to school until they were 20 and 21 and give a bunch of short term workforce to many agencies, national parks, DOD etc and train kids on how to live and be responsible before they go to university. Then, pay their tuition/room/meals for 8 semesters. They don't have debt we get work from the young folks and they go into school a bit more mature and with some experience behind them.

All agencies, this is not a draft, it's voluntary and the jobs don't turn into permanent positions.