On Tue, 27 Aug 2019 08:59:20 -0400, Wade Gattett
wrote:

On 8/27/19 8:39 AM, Frank wrote:
On 8/27/2019 8:32 AM, Bill wrote:
An idea I had concerning* Student Loans:

Pretty simple really, wonder why I haven't heard of it before...
A lot of big universities have very large financial endowments that
they are pretty proud of.* Why not primarily provide student loans by
requiring students to take out loans mostly sourced by the endowments
of the institutions where they attend.

I'm fairly certain you would see things "tighten up" all over. There
would be a serious concern over student success and "good" choices of
majors. Many majors would probably disappear over night.

What do you think?

Bill

Anything is better than federal student loans.* The lose money supply
just gets gobbled up by the universities.

When I was in grad school back in the 60's, I took out a student loan
that I used to buy my first new car- a VW Beetle. Paid the loan back on
time after graduation when I got my first real job.

Why is it so hard for the current crop of entitled, special,
helicopter-parented kids to pay their loans back?

Too bad Tony Soprano and Don Corleone are gone. Put either of them in
charge of the Student Loan program and the debt would be cleaned up in
18 months ;-)
Not out of the ordinary for today's graduates to be "precariously
employed" for up to EIGHT YEARS. Can't live on those jibs AND pay off
debt.

Even back in the 60s and 70s I knew not to saddle myself with debt by
going to university (for mechanical engineering) - I chose an
apprenticeship in the trades instead. Back then anyone with a pulse
could get a job - even a good paying brainless assembly line job -
even without finishing high school.

Classmates went to work at Schneider's meats skinning weiners for 5
times what I earned as an apprentice - or they went to work on the
assembly line at Budd Canada building frames - or to Uniroyal or
Goodyear or BF Goodrich building tires - or to Kauffmans, or Greb, or
Boonie Strewart to make shoes or boots.

All of those jobs were within 25 miles of home.

Those who went to university for teaching got jobs fresh out of
teacher's college - and nurses were also in highdemand.

Today teachers will be on the supoply list for 3-8 years before
landing a job (unless they want to teach French - then it's only a
year or two) Nursing grads work part time for YEARS. No more tire
plants. No more frame plant. No more J.M. Schneiders. Even in the IT
and tech world it is VERY competetive - with grads from UW heading to
Silicon Valley and Washington State to get jobs - even with all the
hightech startups here in Waterloo. Blackberry is a shadow of it's
former self.

ANd if you DON'T have a degree it gets even worse - - - - but at
least you don't have the debt tying you down.