Trump administration wants Congress to put a limit on loans for grad students, parents of undergrads
CComments
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Limiting how much can be borrowed might have some limited effect. The real issue is the 500% increase in college tuition over the last 30 or so years. Each time a bill expanded access to funds that was enacted during the Clinton and Obama administration occurred, the cost of tuition magically increased. How do they explain that someone in the 1970s could work part-time as well as have a full-time summer job and never have borrow money for a bachelor's degree at a 10 Ten state university? Fall quarter tuition in 1969 for a full-time student was $135 (12 or more credit hours) and by Fall quarter in 1973 it rose to $178. One could work at a hardware store for minimum wage and work as a summer camp counselor with spending money to spare. Try that today.A minimum wage job would possibly keep gas in the tank. Even renting books would burn through that. There is something fundamentally wrong with the education system and financial system. All of them just say it's not them.
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It is a very foolish thing to spend $25,000 or more per year for a student from a lower or middle-income family to live on campus and live far beyond your and your parents means.
Today, we Baby Boomers should be extremely ashamed that we have deprived millions of America's youth the "American Dream" that our parents, who grew up poor in The Depression and every block had men with WW2 or Korean War-wound disabilities, provided for us where we could work our way through good 4-year commuter branches of State Colleges with accumulating much in loans.
Still, it can be done for $35,000 in loans today plus part-time school year and full-time summer jobs.
Yes, it means no real vacations in summer and work, work, work - but that's how I, from the poorest family in a neighborhood in the Armpit of the County, achieved a bachelor's in Chemistry and won a graduate school Full Scholarship plus Teachings Assistantship at IIT that paid me the 2019 equivalent of $1700/month that paid for dorm then fraternity costs plus books, etc.IIT's tuition then was the equivalent of $50,000/year. But I got an IIT grad degree by first living at home and going to UMBC, then an almost entirely commuter branch of the U of Maryland system. I worked fast-food then got a job on campus after my 2nd year in chemistry research and tutoring.
THAT is how you do things - getting to live on campus and attending at top-rated school at the graduate level. -
Hold the cost of college to the same rate used for Social Security. Eliminate funding for profit, private and religious schools. The repayment plan for the education received needs to be based on 10 % of the amount of the money earned. After 10 years of payment the student loan will be considered paid. The difference between the repayment based on actual earnings and the loan will be the penalty absorbed by the loan maker for not doing due diligence on the education being received and the actual earning power. Currently those that make the loan & schools have no skin in the game. The student needs to able to go bankruptcy like any other loan.
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What the hell does Ivanka Trump know about education policy?
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So the money will go towards the wall!! Hey where is Devos in all of this?
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Here is another way that the rich are using to stratify our society.
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Sure - limit student access to the funding they need to acquire a college education - makes as much sense as anything else coming out of the Trump administration. Instead of a loan program, why not establish a federally funded scholarship program based on need and academic performance and require recipients to do volunteer work in their chosen field for a period of time after graduation or certification. Oh, sorry - I'm forgetting this is the Trump administration - ever ready to create more problems than they solve.
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Ivanka should take advantage of higher education.
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To create a level playing field, the loans should include an additional amount for bribes and "charitable" donations to the schools of choice.
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Donny's dad bought his way through school, not everyone has that option.
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Maybe the government not allowing $200k in loans for someone getting a degree in sociology might not be a bad thing.
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What this proposal is really all about is to discourage students from attending college unless they enter fields that big brother government decides are worthwhile by denying them loans foe the course of study they desire..
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"Trump administration wants Congress to put a limit on loans for grad students, parents of undergrads"
Let me guess the qualification would be the only students eligible must be caucasian?
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Loans should not be available for degrees that are not in demand (i.e. Women's Studies).
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Makes Perfect Trumpian Sense
LIMIT education loans and create more Republicans. What's not to like? /s
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Loan limits already exist. They must be trying to limit over borrowing that create stipends. Some students take out more that whats needed to cover related and non education related expenses.
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My repayment plan caps my payments at 10% of my "discretionary income." My newly recalculated monthly payment is $714. This means that the government thinks I have over $7,000 in DISCRETIONARY income every month. My weekly paycheck, after taxes, 10% to my 401k and ~$30 for vision and disability insurance, is $1,254, for a TOTAL monthly take-home income of $5,400 (it's not really that high because I don't get any paid holiday, vacation or personal time, but the government doesn't care). And it's sure not all discretionary, since my health and dental insurance premiums come out of my pocket, not my paycheck.
No, I'm not struggling. But the government's determination of "discretionary income" is ridiculous. How can someone's discretionary income be higher than their actual income after taxes?
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I doubt I understand this properly. But how is limiting loans going to increase educational opportunities?
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Nice pivot Ivanka. The world is still talking about how unhinged your father is after that tweetstorm yesterday.
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It's "higher ed", not "higher edu" Geez, you would hardly know these people when to High School - let alone college.
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Colleges and Universities should charge tuition based on the "value-added" aspect of the course work. For example: Full price for Math, the Sciences, and Medicine, half price for Business, quarter price for Liberal Arts and Philosophy. Instructor salaries should be paid accordingly.
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Limit loans on the surface seems okay, but I would bet a deeper look would reveal flaws. We keep hearing about student debt, which is not the fault of the government. It is the fault of educational institutions charging too much and young students not understanding a degree doesn't mean you end up rich. Talk about some legislation that delve deeper into costs of tuition and books costing $300 for mostly unused pages and that's something I believe would get more support.
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Germany has free college. But you can't bribe your way in, you have to be educable. Beer bong 101 doesn't count.
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Before Ivanka can push her higher education proposal she should have to give a full disclosure on how much money daddy paid for her degrees.
Its shameful how much this administration, and others, have blindly spent on military spending while ignoring education and health care in this country. We need a strong military, but we don't need 800 bases outside the U.S. and we don't need to spend an amount equal to or greater than the next six highest military spending nations combined to accomplish that.