College Loans (2 Viewers)

[GrandAdmiral]

Have you ever heard of Pizza Hut?

We're obviously speaking two different things. I'm speaking specifically on on-campus employment.

 

[SystemShock]

You're darn right we don't want to do that. There is a different economic dynamic regarding colleges that does not apply to the military. When we encourage people to go to college by funding their tuition, that gives universities the green light to jack up their tuition. It's an externality: the people deciding whether the student will attend (the student and the university) need to worry about the price. So, honest practical people who have saved to actually pay for their own kids' college have to pay higher tuition - twice. This has been happening already for decades, but it would be worse by making "free college" official.

BTW, "free college" works in Europe because they have standards. Bad students can't go. We don't have that here.

"Honest practical people"... I guess as opposed to dishonest unpractical people who live paycheck to paycheck and can't save.

This idea that you pay for someone else's tuition... but even if we go with that idea, all the things you pay for, which not even benefit people in the U.S....

Free education works in other countries because, in other countries, they don't have social welfare phobia like we have in the U.S. (and by welfare I don't mean food stamps, I mean the general welfare mentioned in the preamble to the U.S. Constitution).

 

[brandon8283]

We're obviously speaking two different things. I'm speaking specifically on on-campus employment.

I get that. But I'm not sure why. I said he could work through college to make up the $3k. I didn't say he had to find a job on campus.

 

[Saint_Ward]

Of course military spending is screwed up, but in a very different way. The "free college" concepts allows any private citizen to run up a bill for a mostly worthless degree without regard for the cost.

And, that concept of "grades" is hopelessly naive. Any screw-up can get into a "college" (not talking Ivy-League here) for a mostly worthless degree. If somebody is paying, the college will accept them.

You hijacked my thread, and I'm not thrilled with that. However...

The benefits of state funded, and a possible federal funded college is that you can set standards for cost, and quality. Basically, you have to go for an accredited degree program.

You can set it up where it only covers the cost of Tuition. Room and board, meal plans, extras, can be whatever. So, people can't just run up the bill. Most state schools are pretty similar in tuition structures, within a bit. Private schools and out of state throw it out of whack. Same for "for profit" schools. At most, you'd cover tuition and maybe a room and board allowance. And the Fed/State sets rules on what extras a school can or can't charge.

It's not complicated and it won't be at the whim of a "screw up" student. Our current set up, of just backing whatever loans, is what encourages running up the debt. Prepaying for it, and regulating it, actually would control costs.

Anyway, that's not really a discussion for here. I just asked if anyone had any experience with PLUS loans vs private loans. The. End.

So, I"m going to guess that your answer is "NO".