President Trump's recent budget proposal calls for reforms to the federal student loan program, so that colleges that "Accept taxpayer funds have skin in the game through a student loan risk-sharing program." Certainly, a change in the student loan program is long overdue.
The biggest beneficiaries of the student loan program, undoubtedly, are colleges and universities.
We need to recognize that a large fraction of students defaulting on loans clearly points to one or more failures on the part of the colleges they attend - poor admissions decisions, poor guidance for students in selecting courses or majors, poor teaching or instructional support, and occasionally a failure to recognize and rectify past mistakes.
Colleges are in the best place to address the student loan crisis because they have the best data - data on each student, each program, and each outcome.
It's time to protect students by putting a college guarantee into student loan programs.
Students who are admitted to a college and who take out a student loan should be guaranteed that if they go into default on the loans, the college will cover any missed payments.
Good colleges will partner with their students, and colleges that exploit students will close, as they should.
https://spectator.org/loan-reform-requires-colleges-with-skin-in-the-game/
The biggest beneficiaries of the student loan program, undoubtedly, are colleges and universities.
We need to recognize that a large fraction of students defaulting on loans clearly points to one or more failures on the part of the colleges they attend - poor admissions decisions, poor guidance for students in selecting courses or majors, poor teaching or instructional support, and occasionally a failure to recognize and rectify past mistakes.
Colleges are in the best place to address the student loan crisis because they have the best data - data on each student, each program, and each outcome.
It's time to protect students by putting a college guarantee into student loan programs.
Students who are admitted to a college and who take out a student loan should be guaranteed that if they go into default on the loans, the college will cover any missed payments.
Good colleges will partner with their students, and colleges that exploit students will close, as they should.
https://spectator.org/loan-reform-requires-colleges-with-skin-in-the-game/
No comments:
Post a Comment