The Secretary of Education, Linda McMahon, nailed it: Higher Ed is a frankly scam.
His column of Wall Street Journal announcing last week an end, as of May 5, to the deterioration of the student prison of President Joe Biden, pauses and forgiveness plans should force each taxpayer, official, student and father to rethink the perverse edition of the Nation.
This is how McMahon describes the scheme: “Colleges and universities are called non -profit organizations, but for years they have massively benefited from the federal subsidy of loans, hiking and accumulating multimillion -dollar endowments.”
A 2015 study found for each dollar jump in subsidized loans, the registration increased 60 cents.
Schools have used additional cash not only for goose endowments but to hire more personnel, varied bureaucrats, such as Dei advisers, and increase salaries.
Government’s help, in other words, mainly helps greedy universities. No children.
Meanwhile, the “students graduate six figures in red”.
Worse, “many of the programs that grant titles that qualify for student loans do not feel in the labor market.” However, “universities continue to accept students from these programs and encourage them to borrow to pay them.”
It is a scam created by the government: young adults have a massive debt that endangers “their ability to achieve American dream.”
McMahon promises to “push universities to be responsible.” And on Tuesday, the Trump team announced that it would go to pensions, tax reimbursements and even the salaries of borrowing students who refuse to pay their federal loans for students.
It is a great beginning, but far from being enough to solve the problem. The whole model must be retropriated.
To start, students and, likely, universities need more skin in the game.
The cancellations of the biden loans were not unfair to those who did not receive them, but sent a message that, if they continued, the students could attack the universities in the penny of the taxpayers and, therefore, nothing that could not lose. It wasn’t wheat Money at stake.
Who broke a key incentive to avoid abandoning and learning useful Knowledge and skills.
Universities also see loans as an invitation to accept children for the dollars they bring instead of the hood of probability that will be academically successful, and graduate with skills that will make their education financially justifiable.
Several ideas over the years, how to make the highest ED pay at least part of the loans that their students predetermine, try to have the problem.
And with the Trump team seeking to shake your education even wider, starting to tear yourself, there is no better time to address this perversity and rethink university financing.
Yes, many universities do a commendable job, not only educating young adults, but it is a valuable research, partly in hard sciences.
But too many have become leftist bastions focused on money that inflame hatred, often along racial, ethnic or religious lines.
They have drawing social activism about real knowledge.
It is a gigantic problem, but a mature one for someone like Donald Trump.
We hope he approaches him, son.