The dirty little secret of taking loans for college education | Letter

I had lunch with a homeless man. Not all of them are crazy lunatics, you know. He has a doctorate in literature. So why does he live under a bridge? Simple, he has crushing school loans, all backed by Uncle Sam. Here’s the nation’s dirty little secret. Universities do more harm to the American economy than they help it. It’s my opinion. I was amazed at how many homeless people have advanced degrees.

The federal government supports loans regardless of the return on investment in education. There are a few hurdles to overcome. However, there is absolutely no recourse if you have one of these loans and the school you went to has a 50% failure rate for freshmen.

If you were tricked into thinking you were good enough for college and couldn’t graduate, well, you have that debt. Why do universities charge the same price for engineering degrees as for a degree in Russian literature? Or art history degree? Which has more earning potential? I never said to stop funding certain degrees, to let supply and demand contribute to the return on investment. These colleges have business programs; I guess they don’t practice what they preach. Why is a Chevy cheaper than a Lamborghini? Why not the same price, like university degrees?

The left’s response to this is to make education free. I say make it a real partnership and hold the universities accountable. Federal loans based on enrollment percentage, employment percentages and a certain return on investment.

Education is meant to be an investment.

Gregory Labelle


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