It is sorry to witness how higher education has evolved into a racket that puts our young people into debt for decades all for the privilege of indoctrinating so many with ideas that are detrimental to our entire society and to themselves. The time has come for us to reverse this trend, and for the government to get out of the cynical business of subsidizing this stupidity.
Anyone who has seriously studied the question of college tuition has observed just how quickly the cost of collecting a degree has outpaced inflation in most every other area. There is a direct relationship between the ease and availability of student loans and the rising cost, because as these loans are uncollateralized, immune from bankruptcy considerations, and given with support from the Federal government, they serve only to allow university administrators to endlessly raise costs. Furthermore, they serve as moral disincentive against connecting the ivory tower to the needs and consideration of the real world in so many cases, leading to the proliferation of junk disciplines and worthless degrees in made up disciplines.
We can change this, and we should do so for the benefit of our children in the future, for those struggling with debt, and to encourage higher education to move in a pathway helpful to society, not as its eternal foil without limiting free speech. The first step must be to allow those who have student loan debt to be permitted to file bankruptcy. The second step is for the US government to no longer back these loans. Opponents of these measures will cry they will bankrupt the university, but I contend they will instead reduce cost massively for the student as the unavailability of a cash cow to subsidize the university will drive down costs and elevate standards as people going to college will have to justify their intentions to lenders.
I also would seriously consider supporting erasing the college debt currently accrued as a single one-time action. The idea of punishing cynical lenders who sought only to make money on interest strikes me as a positive, and if the cost is that many universities don’t survive absent public subsidy, then America might be the better for it as a blend of different options such as trade schools could proliferate. High quality education will remain in demand, as ever, as a means of social status, but what we would do is bring things back into balance with these acts.