What George is discussing is a crime and a catastrophe. The folks responsible for this should be in jail which would be the parents, the government and the Universities. I would like to see our Republican candidates take this on.
Good post on the George Will's ideal graduation speech. What a crime!! George didn't mention it but the parents are also to blame. We have 11 kids many of whom have now finished college, some finishing in their '40's. I never thought college education was something that was necessary to get along in life. In fact, 3 of the 4 kids that didn't go to college have done very well, graduating from the school of hard knocks. Of the 7 that did go to college 2 are medical doctors and one is a political commentator on ABC TV and the others are resonably successful. When the kids graduated from H.S., only the ones with a superior grade point average and having saved enough for their first year tuition could go to college. I helped with the next years but they had to work and obtain grants. I am sure this was hard on them but it did pay off.
The bottom line: parents should wise up and until they do this ripoff will continue.
Couldn't agree more!
I haven't run the numbers, but I wonder what the true "expected earnings gap" would be between the following courses of action:4 year college degree in a liberal art major (not even the more silly ones like gender studies - a reasonably respectable one like English/Literature, Economics or Philosophy)Take the same money (probably between $80,000 to $160,000) and invest in a solid franchise - a McDonald's or Pappa Johns or similar.
I once had a wrong phone number call at work from a woman who was upset about her kid being unable to pay back a college loan and its interest. (I remember she was nearly screaming) At one point she asked if I was in a similar situation. I told her no and my dad had opened a savings account for college when I was little. (Of course, 529 plans were nonexistent in the late 80s) The woman caller was in disbelief. She calmed down enough so I could give her the correct number she needed.When I hung up, I remember thinking a) Did you fully understand what you were signing and b) no one forced you to take that loan.
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