Date: 2017-03-18 01:46
The lack of financial literacy—just like the lack of a driver’s license—is more than a personal problem. It is dangerous for our country’s economic health. The Great Recession was driven by mortgages and loan terms consumers didn’t understand. The entire nation went into an economic tailspin as a result of that lack of understanding.
Today, the cost of attending many public colleges is so high that a lot of students simply can't afford to. As a result, far fewer students from lower-income families attend college than those from upper-income families. That is in spite of the fact that the federal government continues to supply financial aid to eligible students, including Pell Grants (which don't have to be repaid).
College athletes should not get paid because they will turn college athletes (student-athletes) into professionals. Also, a lot of your big sports pay for the little ones that are free to go to like Cross Country, Volleyball, and swimming. However, I think they should be paid for signing autographs, especially if they are famous.
In the early days, students could often attend public land-grant colleges without paying any tuition. That was possible because only a relatively small percentage of Americans actually attended college. But as enrollment grew over the years, so did the funding requirements in each state. And that led to public colleges eventually charging tuition and raising their fees as enrollment grew and state funding slowed.
Under a truly universal system, the number of wealthy students the system would be 'wasting' money on pales in comparison to the amount we waste on the administrative costs and hurdles involved in need-verification. Even with an assumption that some wealthy people would benefit, the advantages of eliminating financial means-testing would still overwhelmingly fall to the working and middle classes."
(BTW, the worst student debt loads are those created by the private 8775 degree mills, 8776 another wonderful idea brought to us by neoliberals and those who think private enterprise is the answer to all things )
More than a decade later -- as I dutifully write checks for student loans that are still in five-figures -- I envy my British peers, one of whom went on to get a gratis doctorate from Cambridge.
Professor Kirp, on the other hand, has made a study of the British Open University, which has a mission and governance structure that is significantly different from that of a research university. In particular, the British OU has a long track record of producing excellent online courses, and its governance structure is designed to develop and maintain online content.
If college lacked the limiting factor of cost, a whole host of academic, personal, and lifestyle problems could be averted. Far too many entering students are steered towards educational paths (majors and careers) that are not in harmony with personal areas of ability and preference. Rather, lucrativeness is prized over integrity, leading both grades and well-being to suffer.