PlumFishing Posted June 30, 2019 Report Share Posted June 30, 2019 Interesting white paper from the American Enterprise Institute. It’s a long paper so C&P would muddle up the thread, so from the Exec Summary: “his {Lyman Stone’s} report focuses on five main areas: • Increasing stringency of land use regulations such as zoning, • Greater prevalence of restrictions on work such as occupational licensing, • Unusually high incarceration rates given cur- rently low crime rates, • An education system that forces people to spend more years in school for a higher cost and less value, and • Growing debt and other financial burdens among households and at all levels of government.” Red, White, and Gray POPULATION AGING, DEATHS OF DESPAIR, AND THE INSTITUTIONAL STAGNATION OF AMERICA https://www.aei.org/wp-content/uploads/2019/06/Red-White-and-Gray.pdf Link to comment Share on other sites More sharing options...
PlumFishing Posted June 30, 2019 Report Share Posted June 30, 2019 (edited) Author of AEI’s white paper in The Atlantic article on the subject: https://www.google.com/amp/s/amp.theatlantic.com/amp/article/592336/ Edited June 30, 2019 by PlumFishing Link to comment Share on other sites More sharing options...
RJ Posted June 30, 2019 Report Share Posted June 30, 2019 (edited) On 6/28/2019 at 2:48 PM, KnewBee said: Starting this fall... Excellent for our Veterans! The kids that owe the Government Tuition money have a debt of more than a Trillion Dollars! Students from 2009 to now have been raped by the plan Obama constructed, Trump has his People Looking for ways to reduce the cost of college Loans, He has already signed a bill to help students pay for classes to grow more computer, mechanics, Plumbers, Construction Trades, etc. Obama’s Dept. of Education refused to extend the permits of companies like ITT to conduct classes. ITT shut down and laid off 4,000 instructors and Administrators and wasn’t allowed the graduate 10,000 students in 2016! Edited June 30, 2019 by RJ Cabo2005 1 Link to comment Share on other sites More sharing options...
55555s Posted June 30, 2019 Report Share Posted June 30, 2019 19 hours ago, zybathegeek said: Time to analyze repayment of student loans for majors that repay the fastest, majors the repay the slowest, and those majors who default the most. Make an actuarial grid of risk, and adjust interest rates accordingly, the highest rates for the slowest repayments, the lowest rates for fastest repayments, and parental financial guarantees for the majors that default the most. I recall paying more for my car insurance due to location, age, and gender as well. "Just Sayin" . Link to comment Share on other sites More sharing options...
zybathegeek Posted June 30, 2019 Report Share Posted June 30, 2019 5 mins ago, 55555s said: I recall paying more for my car insurance due to location, age, and gender as well. "Just Sayin" Called actuarial risk, it is a settled science. Politicians and diapers should be changed often and regularly, invariably for the same reason. ______________________________________________________________ "You can fool all the people some of the time, and some of the people all the time, but you cannot fool all the people all the time." Attributed to Abraham Lincoln. Link to comment Share on other sites More sharing options...
flyangler Posted June 30, 2019 Report Share Posted June 30, 2019 Glenn Reynolds, law professor aka InstaPundit, wrote in the WSJ in June 2013 something which is still true today, if not more so: If we want to solve the very real problem of excessive student-loan debt, college costs need to be brought under control. A 2010 study by the Goldwater Institute identified “administrative bloat” as a leading reason for higher costs. The study found that many American universities now have more salaried administrators than teaching faculty. Another way to approach costs is to remove the incentives for universities to accept government-subsidized student-loan money regardless of a student’s prospects of graduation or gainful employment. Under the current setup, incentives run the other way: Schools get their money up front via student loans; if students are unable to pay the loans back, the burden falls on taxpayers (if the loan was “guaranteed” by the federal government), and the students themselves, while the schools get off scot-free. A serious student-loan fix would change this incentive. First, federal aid could be capped, perhaps at a national average, or simply indexed to the consumer-price index, making it harder for schools to raise tuition willy-nilly. Second, schools that receive subsidized loan money could be left on the hook for a percentage of the loan balance if students default. I would favor allowing students who can’t pay to discharge their loan balances in bankruptcy after a reasonable time—say, five to seven years, maybe even 10—with the institutions that got the money being liable to the guarantors (i.e., the taxpayers) for, say, 10% or 20% of the balance. You can bet that under this kind of a rule, universities would be much more careful about encouraging students to take on significant debt unless they are fully committed first to graduating, and second to a realistic career path that would enable them to service that debt over time. At the very least, schools would be more likely to warn students of the risks. Even thinking about the impact of such a “skin in the game” rule for colleges helps to illustrate the irresponsible—even, in Elizabeth Warren’s words, “immoral”—way that colleges up to now have dealt with costs and with debt. If lawmakers were serious about helping students pay for college, Congress would be considering more than simply continuing low interest rates on ever-higher student-loan balances. “No nation in history has survived once its borders were destroyed, once its citizenship was rendered no different from mere residence, and once its neighbors with impunity undermined its sovereignty.” - Victor Davis Hanson Link to comment Share on other sites More sharing options...
flyangler Posted June 30, 2019 Report Share Posted June 30, 2019 Over at National Review two days ago: American society has been sold on the idea that obtaining a college degree is the key to success. “Universities are seen through rose-colored glasses,” Dr. Jenna A. Robinson, president of the Martin Center, told National Review. And the government’s backing of student loans has allowed more students to be financially viable to attend college. Children go to high school, get accepted to college, get the dream job after graduation and buy the house with the white picket fence; the process is almost formulaic. “Conventional wisdom has been pushing college-for-all for a very long time,” Robinson said. “The minute a kid hits first grade he or she is pushed toward college,” Schalin said. “The education industry and their friends in government have been pushing ‘college for all’ for political and financial reasons,” Schalin added. While the number of people with undergraduate degrees has increased significantly since the 1990s, so too has the cost of those degrees. Add on the fact that an even higher percentage of those students end up in occupations they most likely could have obtained without a degree, and you wind up with a negative return on investment — that, had it occurred on Wall Street, would generate plenty of righteous condemnation. There needs to be more investigation of the causes behind tuition inflation — including the ballooning in university administrations. Politicians have rarely given any attention what caused this dramatic increase. “The people in a position to call out universities for their complicity in the student loan ‘crisis’ have by-and-large benefited from their college educations and believe that it was very much worth the time and money it took to attend,” Robinson said. “They went to decent schools, they graduated on time, and they paid back their loans (if they had any) with ease.” The institutions that were once centered on the pursuit of knowledge and higher learning may condemn the free-market economy, but they are pursuing their own profits — and they should not escape blame for the current situation. “No nation in history has survived once its borders were destroyed, once its citizenship was rendered no different from mere residence, and once its neighbors with impunity undermined its sovereignty.” - Victor Davis Hanson Link to comment Share on other sites More sharing options...
Cabo2005 Posted July 1, 2019 Report Share Posted July 1, 2019 On 6/30/2019 at 1:48 AM, RJ said: Excellent for our Veterans! The kids that owe the Government Tuition money have a debt of more than a Trillion Dollars! Students from 2009 to now have been raped by the plan Obama constructed, Trump has his People Looking for ways to reduce the cost of college Loans, He has already signed a bill to help students pay for classes to grow more computer, mechanics, Plumbers, Construction Trades, etc. Obama’s Dept. of Education refused to extend the permits of companies like ITT to conduct classes. ITT shut down and laid off 4,000 instructors and Administrators and wasn’t allowed the graduate 10,000 students in 2016! My SIL went to ITT and it served here well. She was a programmer at Verizon until they shut her department. Cabo Link to comment Share on other sites More sharing options...
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