115
submitted 1 year ago by nodsocket@lemmy.world to c/asklemmy@lemmy.ml

This would save young Americans from going into crippling debt, but it would also make a university degree completely unaffordable for most. However, in the age of the Internet, that doesn't mean they couldn't get an education.

Consider the long term impact of this. There are a lot of different ways such a situation could go, for better and for worse.

you are viewing a single comment's thread
view the rest of the comments
[-] kersploosh@sh.itjust.works 120 points 1 year ago

Loans aren't the problem. Insane loan debt is a symptom of an unsustainable higher education system.

You can learn a lot on your own, but many careers require a formal education (medicine, law, engineering, etc.). By itself, banning student loans within our current system merely makes it harder for poorer people to attain those careers.

[-] Haywire@lemm.ee 18 points 1 year ago

Loans that can't be discharged are the problem. Tuition went out the roof when universities discovered this gold mine.

[-] CMahaff@lemmy.world 3 points 1 year ago

But on the other hand, if loans were subject to bankruptcy, most poor people would never be approved to get them.

[-] Haywire@lemm.ee 4 points 1 year ago* (last edited 1 year ago)

We could go back to government guaranteed loans based on financial circumstances. And we could go back to tuition rates that were compatible with working your way through college. That system worked pretty well. It did drop some students through the cracks because their families were too wealthy for them to qualify and they couldn't or wouldn't work their way to tuition, but it seems like it did a lot less damage than the current system.

[-] xapr@lemmy.sdf.org 13 points 1 year ago

Student loans seem to be a massive part of the problem of out of control tuition increases. The National Bureau of Economic Research published this study in 2016 that showed that changes to the Federal Student Loan Program accounted for the majority of the 106% increase in tuition between 1987 and 2010. Whether that's some right-wing scheme to divert attention from reduction of states' funding of public universities I haven't looked into, but it seems to me that it's at least a significant factor on its face.

this post was submitted on 11 Oct 2023
115 points (71.4% liked)

Asklemmy

44183 readers
1142 users here now

A loosely moderated place to ask open-ended questions

Search asklemmy ๐Ÿ”

If your post meets the following criteria, it's welcome here!

  1. Open-ended question
  2. Not offensive: at this point, we do not have the bandwidth to moderate overtly political discussions. Assume best intent and be excellent to each other.
  3. Not regarding using or support for Lemmy: context, see the list of support communities and tools for finding communities below
  4. Not ad nauseam inducing: please make sure it is a question that would be new to most members
  5. An actual topic of discussion

Looking for support?

Looking for a community?

~Icon~ ~by~ ~@Double_A@discuss.tchncs.de~

founded 5 years ago
MODERATORS