Re:College has been oversold
by dustyscreams on Wednesday November 02, 2011 @02:31PM
(#3188249)
If student loans were dischargeable in bankruptcy lenders would think much harder about the wisdeom of lending $40k/year for liberal arts degrees. Colleges would have to reconsider what they charge for such degrees and students would have an important market signal when choosing a course of study.
> If student loans were dischargeable in bankruptcy lenders would think much harder about the wisdeom of lending $40k/year for liberal arts degrees.
Not if the lender is the US govt, as it is today.
Not if the loans are guaranteed by the US govt, as it was before.
I agree completely. The special treatment of student loans w.r.t. bankruptcy is bizarre and leads to all sorts of bad consequences.
Re:College has been oversold
by overgryphon on Wednesday November 02, 2011 @11:14PM
(#3190056)
As someone about to graduate, the first year after college salary of CS students right now is incredibly intimidating. My work isn't worth that much.
Sure there is. It's called Baumol's Cost Disease.
Now of course some of those engineers & scientists are working on things like khan academy and other methods of attacking that problem. The downside is that the demand for English or Philosophy majors will only further erode (what do you do with a philosophy degree when there are fewer jobs teaching the next generation of philosophy students?).
No one is saying that everyone should be an engineer or scientist, but it's blatantly obvious that moving the ratio a good bit is, in fact, the answer. English and Philosphy majors can't get jobs while some kids with CS degrees are getting close to making 100k/yr straight out of undergrad. The market is speaking. Listen to it.