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https://nces.ed.gov/fastfacts/display.asp?id=40

The 6-year graduation rate (150 percent graduation rate) for first-time, full-time undergraduate students who began seeking a bachelor’s degree at a 4-year degree-granting institution in fall 2010 was 60 percent.

OK 40% do not complete their college education.

https://nces.ed.gov/fastfacts/display.asp?id=372
In 2018, a projected 12.3 million college and university students will be under age 25 and 7.6 million students will be 25 years old and over.

So 21 million in college. And likely 4 to 5 million new students every year.

Thus a sizable number of folks have occurred debt yet did not complete their college education. that puts them in a disadvantaged position.

Plus:“I had some of the highest placement scores they had seen,” Spangler claims, “but my credit report had too many negative marks.” With one or two exceptions, all of those marks were from student loans.

The weight of the debt has not only hindered Spangler’s search for employment—it has also affected his family and romantic life. He has had to rely on his parents to cosign for loans. And, he says, he has been “a little reticent to pursue a serious relationship,” thanks in part to fear of being judged for his debt."
https://www.theamericanconservative.com/articles/the-student...
Specifically, the last 20 years of student debt accumulation—driven largely by federal policy—have radically shifted the life-courses of younger Americans, whether late Gen Xers like Spangler or Millennials. Millions of Americans now enter adulthood with a burden unfaced by their parents or grandparents, which in turn slows their family formation, alters labor market behavior, and represents a profound alteration to how they live out citizenship.

Methinks a huge negative macro economic impact upon the US economy. And an ever increasing number of disgruntled folks that will have a societal & political impact upon the nation.
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<<Methinks a huge negative macro economic impact upon the US economy. And an ever increasing number of disgruntled folks that will have a societal & political impact upon the nation.>>



Well, perhaps so. But think of all the keen stuff universities get to buy with all that money!


Seattle Pioneer
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Millions of Americans now enter adulthood with a burden unfaced by their parents or grandparents, which in turn slows their family formation, alters labor market behavior, and represents a profound alteration to how they live out citizenship.

Maybe so, but having the government, ie taxpayers, shoulder 80% of the cost of an education, like they did for my generation, is "socialism", right? That's almost as bad as "Godless Communism", right? Students are better off being debt slaves than involved in "socialism", right?
/sarcasm

Steve
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Getting the university to co-sign for at least a portion of the student loans would go a long way toward fixing this. Their admissions would make sure the students are likely to be good candidates to learn and graduate. They would be more likely to teach majors that are in market demand for students getting loans.
Why should the government (taxpayers) be on the hook for the loans just so the schools can admit as many people as possible so they can build more buildings, teaching things that the market doesn't want?
Or, it is because the snobby schools are getting so much money through the side door and everyone else wants theirs too?

Mike
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<<Or, it is because the snobby schools are getting so much money through the side door and everyone else wants theirs too?

Mike
>>


Heh, heh! EXCELLENT analysis!


<<Getting the university to co-sign for at least a portion of the student loans would go a long way toward fixing this.>>


Good luck with that. The schools want their money free and clear.

I would be surprised if Democrats don't engineer a bailout for all their political dependents caught in the trap they have made for themselves.




Seattle Pioneer
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Getting the university to co-sign for at least a portion of the student loans would go a long way toward fixing this. Their admissions would make sure the students are likely to be good candidates to learn and graduate.

On the surface, this novel idea sounds great - make them have some skin in the game.

Unfortunately, I think the real world result would be that the universities would simply use it to discriminate against those of lower economic backgrounds.

I can easily see such a program having significant disparate impacts on various minorities.
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"Methinks a huge negative macro economic impact upon the US economy. And an ever increasing number of disgruntled folks that will have a societal & political impact upon the nation. "

-------------------------------

Just thinking out loud here, but compare the stresses on young adults nowadays with say the young adults in the 1960's and early 1970's. Those youngsters were facing an all expense paid tropical adventure to the jungles on Vietnam. From what I'm told by older brothers, one of whom got the free trip to Asia, and one who's # did not come up in the draft lottery, these were pretty stressful times, too. I do not think the current young adults will be near as disgruntled as that age group.

I'm not saying that the current crop of young adults are not getting screwed over by the Academic Industrial Complex, 'cause they are, but they ain't getting shot at, either.
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Unfortunately, I think the real world result would be that the universities would simply use it to discriminate against those of lower economic backgrounds.

I think that a reasonably smart person could devise a system that was double-blind and have the ratio the school would have to co-sign for be proportional to some economic measure (based on FAFSA application, for example). The school would only know the test scores, high school grades and class rank, and desired major. Info updated at the end of each year with latest grades and the co-sign portion increases each year.
The school's scoring algorithm for each major would have to be completely open and public, rather than like the "secret" admissions algorithms.

Mike
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On the surface, this novel idea sounds great - make them have some skin in the game.

Unfortunately, I think the real world result would be that the universities would simply use it to discriminate against those of lower economic backgrounds.

I can easily see such a program having significant disparate impacts on various minorities.


I don't know about that. If anything, it would make them discriminate against degrees that are "worthless", or actually "worth less" as far as earning a wage after graduation. I suspect that this would affect students enrolled in liberal arts programs most of all. And eventually, the schools would have to dramatically shrink those segments of their institution as the demand dries up.
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OK 40% do not complete their college education.

You may want to read before leaping to this conclusion.
This is a report on the first-time, full-time fall cohort at the same institution.

From the link...That is, by 2016 some 60 percent of students had completed a bachelor’s degree at the same institution where they started in 2010...

If you want to look deeper, try here :
https://nscresearchcenter.org/signaturereport16/
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