Quote:
Originally Posted by Tvflguy
Back in my school/college days, I worked part time to pay for much of my higher education. And a loan in order to get by. It was tough but I persevered as many here in TV probably attest.
But if I would have waited to legally pay back my college loan, $10,000 would have now been paid back by the gvt. And taxpayers.
I’m such a fool. Always thought that it was the responsible thing to do. And gain personal satisfaction.
Nope. Now simply wait it out and let taxpayers pay some of it for you. Darn it.
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The education system is broken - I get to witness it first hand. Here are some reasons why:
a) Professor Evaluations... now drive the system. A few results: 1) grade point inflation is incredible; the average GPA in most Universities today is in the A- range. Professors know the quality of the education doesn't keep them employed - it is the student reviews.
b) Entitlement... most students today believe their grades should be based on their effort - not the result. As a result, the quality of education has dropped. However, students believe that with a piece of paper - they are now qualified and knowledgeable.
c) Financing System... at a young age - most students have no perception of what the reality of their debt will mean on their lives; too far off in the future and little perspective of consequences.
d) Professors That Get Promoted... typically not the quality of their teaching - it is the "research" that they've done. Read some of their thesis and you may be shocked; much of it I call "mental masterbation" - lacking any honest benefit and with a a supposed expertise that add no value in the classroom.
e) EXAMPLE: did you know... in most Business Schools - it is the "adjuncts" that get the most reviews for useful education? However, an adjunct makes about $3k per class; a professor with a PhD makes 4x that straight out of graduation. Make any sense? Further, the top adjuncts rarely can be hired full time - unless they get a PhD.
f) Specific Examples? I witness students getting their master's degrees that write paragraphs that wouldn't get a passing grade when most of us went to high school. It is not a rare occurance to get paragraphs over 15 sentences long!
g) This New Give Back? Interestingly, most of my liberal friends dislike the $10k to $20k loan forgiveness almost as much as my conservative friends (has become more difficult in the past few years to maintain both types of friends). There were so many smarter ways to do this - my opinion - not fact, including:
Incentive To Pay Loan. For example, a) zero Interest... as long as the loan payments are made on time, b) extend the number of years the loan can be paid and c) if loans are paid on-time for five years, an incentive of forgiving 25% of the remaining balance.
This loan forgiveness is an insult to so many:
a) Those Who Paid Back Their Loans.
b) Those Who Worked While Going To School
c) Those Who Decided Not To Go To College - And Work In The Trades
... and so many more!