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Let Student Loan Interest Rates Rise

Higher rates would encourage potential students to think a little harder about borrowing money for school

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I have to agree with Ernest A. Ager, M.D. M.S. M.P.F. College should be harder to get into, and it should be free. The government could set a limit for the amount that it will reimburse the schools that qualify for these prestigious programs. Schools will want these students, even if they are not making as much money on tuition, because the students will donate as alumni. There would still be favoritism toward rich kids at top schools unless parent donations were limited though. Investment in quality education is good for society and should be in the government's interest.

There is so much focus on just getting any degree from anywhere at any cost that people feel that they have to go to college. (I was told this since I was in an inner city elementary school.) Specialized job training programs may be a more time- and cost-efficient way to learn technical job skills.

College tuition is out of control of CA 5:06PM May 02, 2012

@taxed enough

First, gotta love the liberal attack. Second, if you have ever had a student loan, you would know that they can't being forgiven, even in bankruptcy.

We would all love to hear more about how you paid your own way through college with no grants or loans. What was the going tuition at the time?

College tuition is out of control of CA 4:45PM May 02, 2012

If student loan interest rates were variable and tied to a Treasury index (like they used to be), there would be no need to worry year to year if the rates were too high or too low. Of course, that also takes away a campaign year opportunity for Democrats to pander to young voters - thus we have a "crisis" created by the Democrats in 2007 and now being "solved" by them in 2012.

Pat of CA 9:18AM April 30, 2012

I bet Neal McClusky, the author, went to school. I bet his education helped him with getting and keeping his current job.

I bet he wouldn't want to work in food services.

What's sad is he has ridiculed the very concept which has helped him get to where he is today: becoming empowered by becoming educated.

Eric of TX 1:57AM April 29, 2012

I believe that young adults do need to take a good hard think about what they want out of their education before just jumping in. I partially agree with this point. But there in lies part of the problem as well. Straight from their sophomore year of high school, students are being assaulted with questions about what school they are going to attend, and that they have to attend college to make any money. We need to slim down on the amount of pressure being applied to these young, impressionable adults that may not be making decisions based on what they want, but what guidance counselors, college reps, and instructors are telling them they want/need.

Been out of college 3 years, and is unhappy about where fingers are being pointed of MN 7:28PM April 28, 2012

They knew how much they were borrowing. They also knew we live in a liberal society where "no one is responsible for anything". They can bet the government will bail them out at the expense of the 53% of the population that actually has to pay federal income tax.

BTW - I paid my own way through college.

Taxed Enough of NH 9:49AM April 28, 2012

Of course, education through college or university should be free and tax-supported for every qualified student, as is high school. Higher education should not be a gift for the rich, or wealthy, but an opportunity for the gifted and talented. Intelligence and education are the greatest resources that this country has, and shouldn't be wasted by shutting out opportunity form those who are poor or middle class, simply because of inability to finance schooling.

M.D. from poor immigrant family, and prestigious medical school, funded by the G.I. Bills after serving in WWII financed, and serving for 40 years as a professor of medicine..

Ernest A. Ager, M.D. M.S. M.P.F. of WA 12:47AM April 28, 2012

Also, I just looked up the US Department of Labor's Bureau of Labor Statistics Table for projected growth. There are at least 7 positions within the top 30 listed that require higher education. Get your facts in order, please.

http://www.bls.gov/news.release/ecopro.t06.htm

Young Adult of SC 6:38PM April 27, 2012

I agree with DM and I feel extremely offended by this article. Obviously the author has no idea how hard it is to be a young adult in the current job market- especially one who has not finished a degree. One who does not have family that will help pay the way through school. It is easy to pass judgement on a situation that you have not experienced. The issue of tuition prices raising in response to available aid is a valid point; however, many students do not have the option of refusing student loans. Pick an issue to lambast but do not make generalizing statements about an entire population of individuals. Apparently this guy is not aware that currently McDonald's and Bi-Lo are both requiring a minimum of an associate's degree for adult hires (at least in my area). What are young adults supposed to do?

Young Adult of SC 6:33PM April 27, 2012

What I would like to see is fewer and fewer Americans going to college, especially to schools that just give you a piece of paper for a degree without actually teaching students any skills.

I would like to see A LOT of lay-offs and salary cuts in the field of education administration. Those will be well-deserved.

Former Student of MA 4:57PM April 27, 2012

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