Student Loans; Wrong Again!

It would be hard to dispute the political motives of the President after all he owes his tenure to the so-called youth vote; on substantive grounds the truth is his proposal to discount student loans doesn’t take effect until January 2015 or does it even begin to approach the underlying two issues (key):

  1. A non-job creating economy and an education system that indentures students with no promise of marketable skills. In part the solution is one of economic and the absence of demand for the educated.
  2. The other is an education system that has no sense of duty to delivering on the implied promise of higher education and here too there is an answer/solution: Instead of financing the University System – which also operates on an economic principle not at all dissimilar to that of Government – require the universities to provide financing at zero interest the payment for which occurs once the graduate is employed in a position at a wage above the medium and then tie the payment to a max percentage of their wage.

As in the case with government, where there is no value attached to failure there is no mandate for success. If there is no outcome-value in the education systems output then what motive should one have to pay for it? If there is value in higher education then should there not be some measure upon which the value can be measured?  As it is, the measure, based on the ranks of the unemployed class of graduates, why should the taxpayer subsidize the institutionalizing of failure?  On this I have no answer.

Curtis C. Greco, Founder

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