Higher Education/Student Loans

Education
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The majority of student loans are “bad debt” that will never be repaid. I propose a multi-step solution:

Universities will never be incentivized to stop handing out student loans like candy unless they feel the financial impact as well.

  1. Universities need to fund a portion of all of the outstanding student loans from their endowments - borrowers will be incentivized to continue to pay off the rest of their loans.
  2. Congress needs to cut the interest rates and make them non-compounding
  3. States need to work with universities to cut all woke/DEI programs in order to cut spending and discourage the need for any student loans in the future. An itemized budget for the universities should be given to the states, and frequent audits.
  4. Technical Schools and Community Colleges should be promoted, and given the ability to provide the basis for more of the university-level programs to be completed at the Technical School level. (i.e. could Technical Schools or Community Colleges handle some of the programs like Architecture or Engineering?). This could also be paired with more apprenticeship programs for professional fields as well.
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Subsidizing Sallie Mae is a huge part of the problem. We need to expand Pell Grants instead and look to Hillsdale College’s strategy–they take no student loans, but still manage to fund students through foundations and other means.

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