After I made a student loans for my son (parent sub) that I have decided not to do any FAFSA loan for other kids, the only reason is that they charge interest rate based on your income, isn’t low at all. I did loaned from my family and paid them back interest instead of paying the 3rd party.
From ancient times to the present, China has established a nation by education and has attached great importance to education. Education has been one of the best ways to achieve class leaping since ancient times. In order to prevent the monopoly and capitalization of education, the state has implemented many compulsory measures. Education is also a relatively transparent and open welfare state's major plan. If there are no tuition fees in China, there will be many people to help you, including individuals, social teams, countries, campus scholarships, interest-free loans, etc. It is rare to drop out of school because of tuition fees. As long as you study hard for your own career, of course, the fees in Chinese schools are relatively cheap.
Lots of Americans go to colleges to study subjects like individual study, history, philosophy, exercise study, etc, of course they can’t find jobs in their fields of study after graduation. Also, there isn’t any real college entrance exam or the standard is so low that anyone can attend college. Like you said, people spend tens of thousands dollars to buy useless degrees. The universities these days are so woke that they give out scholarships to students based on how many hours they spent on “community services” instead of actual ability to succeed in schools. We went through this process five years ago. My son was recruited by a couple of Ivy League schools baseball coaches. We were told by their finance department that we made too much to quality for any scholarships and Ivy League schools don’t offer athletic scholarships. So we said bye and sent him to a top tier engineering school. He got a degree in Chemical Engineering, played 3 years of baseball before COVID ended his baseball career, ranked #3 in school’s all time home run record, now he works for a pharmaceutical company making Moderna vaccine.
nothing wrong with the degree and study. instead, it's something wrong with our society to value everything by money. some may love social study and work for 50k in a small city to have a happy simple life.
@@KevinZKe I agree nothing wrong with their fields of studies if they so chose. However, if they rake up hundreds of thousands of student loans and can't find a job to pay back, and expect loan forgiveness from government (actually tax payers), I will have a problem.
@@weiwendaly3945 it is not an issue to the society or the government. It is an individual issue or a family issue. As a parent, I will teach my kid to research what they should expect from their major and its return on investment. It is not wise to pick humanity study major with 200k debt, but it is fine to even borrow 500k to become an M.D.
@@KevinZKe Agree. Our gift to our kids are to get them free of debit when they graduate. The conditions are they have to study majors that are employable and must graduate in 4 years. I think MD with $500k student loans are okay but I didn't push my older one to go to medical school. I told him to get Engineering degree with a pre-med track. If he wants to go to medical school afterwards, he can. When he graduated last year with a Chemical Engineering degree, he wanted to work in the pharmaceutical industry instead of going to medical school.
