Student debt forgiveness should be funded by fraudulent colleges that sold worthless degrees, instead of by innocent taxpayers

By Daniel Alman (aka Dan from Squirrel Hill)

January 17, 2022

Democrats think that innocent taxpayers should be forced to pay off student debt.

I think this is a horrible idea.

I’m a Libertarian, which means that I am against punishing innocent taxpayers.

It also means that I, unlike Democrats, understand the horrible incentives that would be created if innocent taxpayers were forced to pay off student debt. Such a policy would encourage colleges to raise their tuitions even more than they already have, and would also encourage future students to borrow even more money than what had been borrowed by past students. This would make the problem of student debt worse, not better.

By comparison, my proposal would not do these harmful things. On the contrary, my proposal would cause colleges to think very hard before they encourage their students and potential students to borrow money. It would also encourage colleges to reconsider their current policy of offering worthless majors that cause their graduates to end up working at Starbucks.

January 17, 2022. Tags: , , . Economics, Education.

5 Comments

  1. The Answer Man replied:

    Easy cash has made greedly colleges lower standards to anything with a pulse.

    Not only should their billions in endowments payoff their alumni debt, they shoild immediately be forced to provide guarantees to any new or existing student loans as a condition of receiving any federal funds.

  2. Len Mullen replied:

    Kind of agree. College should be financed in part by the schools. The institutions should agree to accept part of tuition and fees as a percentage of the graduate’s income for a fixed period of time. If the student is successful, the school gets paid more.

  3. Tim replied:

    You nailed it, Maybe add Tenured money too.

  4. Robert+S. replied:

    I have been saying this for years. You are absolutely correct about this. These degrees are worth more as toilet paper.

  5. Ginger Li replied:

    Students who have a degree in anything that says ‘studies’ should have their entire student debt paid by the issuing college/university. If it bankrupts them, more the better.

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