Business, Economics, Education, Media Criticism, Political Commentary

Student Loans

6 Comments

…subsidize waste:

When students have little hope of completing an academic program, subsidies are not just a waste of taxpayers’ money, but a waste of these young people’s time and effort at a crucial age. Too often, they drop out with a sense of failure, poor work habits, and perhaps a sizeable debt.

In an era of scarce resources, ending pure need scholarships may cause low-income students to make wiser choices about their futures. It would be far better if, instead of floundering in an academic institution, they learned a trade, entered the military, or gained work experience. If they really wish to pursue a bachelors’ degree, they can prove themselves worthy of scholarship money by taking classes at low-cost community colleges first.

Like most well-intentioned government programs, this is a disaster.

6 thoughts on “Student Loans”

  1. The only job the government should have is protecting the country militarily (which includes an active spy corps.)

    The only other thing the government is capable of doing by actions is messing with the proper signals in any system considered. It should especially not be involved in economics which is self managed by it’s own signals.

    The govt. does have supporting roles. It should support the media in fostering visibility with subpoena and hearings where a bit of light can provide more visibility.

    Rule of law is not a government job. It’s a meta-job. Law, like mathematics, should be self governing.

    1. Heh, so this military and surveillance system, which is now the sole duty of the government, will never be turned against it’s own people because… well, because it’s your ideal fictional social order and therefore utopia 🙂

    3. Ken,

      Which is why they were first call National Defense Student Loans, after the National Defense Education Act of 1958 which created government student loans. The idea was in a world of push button war you needed well educated warriors and student loans would make education more affordable to all.

      But as with all good ideas (COTS/CCP anyone?) once the government is involved outcomes are not as anticipated 🙂

      1. And yes, it was in response to Sputnik and the belief we needed to promoted STEM education, known simply as science education in the 1950’s.

  2. “Pure need” scholarships lead to credential inflation; since everyone can go to college, everyone now has to go to college or settle for mastering the deep fryer at McDonald’s.

    In fact I’m surprised they haven’t started requiring a junior college diploma.

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