This is NOT Fastlane or Unscripted but I think would solve a big problem we have in todays society.
Someone poke holes in this please.
The idea: On every loan that is needed for higher education, make the colleges themselves be the automatic co-signer on the loan.
I believe a few things will happen quickly.
1) colleges will change from a "soak up all the cash they can per student" to: graduate as many students as they can into profitable jobs (yes i said jobs...i did mention this was not MFS-or-Un-S).
2) college tuition will drop like a Chinese satellite on Easter weekend.
3) banks would actually care about who they gave loans to and for what degrees the money is getting spent on.
4) banks would look at both the student AND the college. Not only credit worthiness but the % of students who graduate from that school in the field they received the degree in (the school has to actually be a good one). I believe banks would give fewer loans so colleges would be forced to pull out all the stops to make tuition as affordable as possible and eliminate most (if not all) "liberal" degrees, or, close their doors.
1 rule: no taxpayer funds can be used to backstop the failing colleges.
What say you?
Someone poke holes in this please.
The idea: On every loan that is needed for higher education, make the colleges themselves be the automatic co-signer on the loan.
I believe a few things will happen quickly.
1) colleges will change from a "soak up all the cash they can per student" to: graduate as many students as they can into profitable jobs (yes i said jobs...i did mention this was not MFS-or-Un-S).
2) college tuition will drop like a Chinese satellite on Easter weekend.
3) banks would actually care about who they gave loans to and for what degrees the money is getting spent on.
4) banks would look at both the student AND the college. Not only credit worthiness but the % of students who graduate from that school in the field they received the degree in (the school has to actually be a good one). I believe banks would give fewer loans so colleges would be forced to pull out all the stops to make tuition as affordable as possible and eliminate most (if not all) "liberal" degrees, or, close their doors.
1 rule: no taxpayer funds can be used to backstop the failing colleges.
What say you?
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