[quote=zk][quote=AN]Mark Cuban have a good solution to the student loan and high cost of college education problem. He propose limiting student loan to $2k/year. The worse a student can do with this applied is $8k in debt for 4 year degree.[/quote]
[quote=Jacarandoso]How about letting students use debt to finish a semester, or maybe a year, but they have to pay it back before starting the next one?[/quote]
How are these good ideas? The whole purpose of student loans is to allow a person who can’t afford to pay cash for their education to get an education, and to then get a job that enables them to afford to pay for college. If you can only borrow 2k/year, you can’t get an education. If you have to pay back your loan each semester, you’re trying to pay back your student loan on a burger-flipping salary.
Sure, the system is screwed up right now. But just saying, “if you can’t pay cash for college, you’re screwed” is certainly not the fix. And both of the above ideas are basically saying that.[/quote]
Nationally, the maximum “Perkins Loan” in the 70’s was about $4400 yr and the maximum “BEOG Grant” was about $2000 yr. MANY HS GRADS did not attend college at that time because they could not afford it. In my case, my parents made $900 year too much for me to qualify for “aid.” (Believe it or not, I still have my [now brittle, lol] “FAFSA” where I was turned down for aid.) I ended up working FT after HS and paid my way thru three semesters of college and then quit (too hard, too many people majoring in what I wanted to major in and too few jobs avail in that field). (This was in CO where college [for residents] cost MUCH MORE than CA at the time.)
Those who could not afford to go college back then typically did not. Only about 17% of HS grads went on to college back then. The rest got married and began families right away and/or began working FT.
I don’t consider college a “right.” I consider it a “privilege.”
