Education is overpriced and
underperforming. Sallie Mae Student
Loans pose a liability that reached $1 trillion this year. Consequently, Sallie
Mae removed student loans from dozens of colleges.
This past year, many for-profit education
corporations were forced out of business when Sallie Mae refused to take their
student loans. It looked like an attempt
to save government schools from lower enrollment, but there were other
considerations.
Colleges spent a fortune creating a “venue”
students would like in order to attract more students. At the same time, colleges reduced their
admission requirements. Consequently, many students were not able to do the work. So, colleges dumbed-down their curriculum. As
college tuition rose and student loan balances loomed with interest charges up
to 6%, students scrambled to pay off their loans.
Those students who had degrees from
dumbed-down courses didn’t get job offers, because they didn’t really know
their subject-matter.
The student who did enter college over the
past few years included those who had tuition benefits from past military
service. Their tuition was covered and they didn’t have student loans.
Many students didn’t understand that the
interest charges on student loans began when they left the college, even if
they didn’t graduate or find a job.
Many of these students who did graduate could
not fine professional jobs and had to continue to work in the low-paying retail
and service jobs they had when they were students.
As the word got out that college would not
pay off, many students stopped their college plans. They price was too high, the demand was down
and the supply would shrink.
The schools effected included for-profit
campus and internet-based colleges like ITT Technical, Sanford Brown,
Corinthian Colleges and Phoenix.
In addition, 100 small, tuition-dependent
colleges have closed or merged since the 1970s.
https://cihe.neasc.org/information-public/merged-closed-or-previously-accredited-institutions
Hundreds of colleges have closed over the
past several years, due to high tuition, loss of federal loan availability and
other reasons.
https://collegehistorygarden.blogspot.com/2014/11/index-of-colleges-and-universities-that.html
Thousands of schools have closed
over the past decades because many of them were formed to fill a need that
moved or no longer exists.
Education
needs to be a lot cheaper and needs to be internet-based so students can
homeschool their college.
Norb
Leahy, Dunwoody GA Tea Party Leader
No comments:
Post a Comment