The college-industrial-complex has been created over a 70-year period ever since Vannevar Bush - president of MIT - made a deal with Truman to create massive funding for academic research post-WWII (Bush claimed that the atom bomb won the war - which is controversial). My dad joined UIUC in 1956 as a professor when there was 1 admin/secretary for every 10 professors. Now the ratio is HIGHER than 1:1. Colleges are no longer efficient. Colleges now compete to see which ones can have the best "lazy rivers". This is way out of control, folks. We need to demand efficiency from colleges for the first time in 50 years ...
discharge of student debt through bankruptcy is needed. academic institutions should probably be put on the hook for a percentage of that. Taking $250K from someone who wants to get a BA in french literature or women's studies so that they can get a job serving coffee at Starbucks should have consequences. And as discussed......we really need to strongly encourage young people to pursue blue collar employment through a vocational degree. Less susceptible to AI. Less debt. Curiously most of these things should be championed by the democratic party but they really are not. I don't hear Bernie Sanders calling for bankruptcy protection or vocational school. I hear him calling for free college for all. It is a missed opportunity and poor messaging..
A discharge is only allowable if at the same time the student loan givers go bankrupt and there is no more student loans. Save for college or work yourself through college. No alternative to that.
No that won't make these bloated places of stupid excess more efficient. We need to deregulate academic research and cut staffing so that professors make up 3/4 of employees at colleges, period.
I worked full time at NYU and got free tuition as a result. I also received a very good yearly salary. I attended evening and lunch hour classes and Summers I attended double session. I graduated in 3 years
Mr. Shilling missed two of the major factors in price escalation of a college degree: (1) government grants and loans and (2) lack of competition (the accreditation system that functions like a cartel).
