On Tue, 27 Aug 2019 09:35:21 -0400, Ed Pawlowski wrote:

On 8/27/2019 8:32 AM, Bill wrote:
An idea I had concerningÂ* 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.Â* 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

Before you implement that, lets answer another question. Why is the
cost of education so high? The same people that complain about
corporate profits never ask about tuition costs or salaries of staff.

Also, should all these kids be in college? Too many end up in jobs that
can be done by a high school graduate but they are paying for a liberal
arts degree they will never use.

One problem is, as long as you are still in school, you can defer
paying them back so people end up with a masters degree or even a
doctorate in some silly subject where everyone in the field actually
making a living at it would fit into a city bus. (Except other college
professors teaching it)
My daughter's FIL is a retired college professor and he told me, most
liberal arts degrees only prepare you to be a college prof. There is
so much vertical integration there that most professors went to
kindergarten at 4 or 5 and never left school after that. We wonder why
kids get out of college without a clue of what the real world is all
about. Who was going to tell them?

wrote:
On Tue, 27 Aug 2019 09:35:21 -0400, Ed Pawlowski wrote:

On 8/27/2019 8:32 AM, Bill wrote:
An idea I had concerningÂ* 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.Â* 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

Before you implement that, lets answer another question. Why is the
cost of education so high? The same people that complain about
corporate profits never ask about tuition costs or salaries of staff.

Also, should all these kids be in college? Too many end up in jobs that
can be done by a high school graduate but they are paying for a liberal
arts degree they will never use.

One problem is, as long as you are still in school, you can defer
paying them back so people end up with a masters degree or even a
doctorate in some silly subject where everyone in the field actually
making a living at it would fit into a city bus. (Except other college
professors teaching it)
My daughter's FIL is a retired college professor and he told me, most
liberal arts degrees only prepare you to be a college prof. There is
so much vertical integration there that most professors went to
kindergarten at 4 or 5 and never left school after that. We wonder why
kids get out of college without a clue of what the real world is all
about. Who was going to tell them?


Your FIL was definitely right. But "What the real world is all
about" seems to change every ten years or so (but admittedly, the
trend has been the same). Look how globalization and the
reduction in manufacturing have changed things. For instance,
look at Flint, MI. It's like a ghost town. And Detroit is a
shadow of it's former self (didn't they declare "insolvency" a
few years ago?). That's part of what the new "real world" is all
about.