Year, after year millions of 18-year-olds essentially take out tens of thousands of dollars in debt to buy something that they cannot afford, and will likely be unable to pay off in the near future or, in their lifetimes: an overpriced college degree. I am not calling college degrees worthless ...at least not all of them. But I am calling the system that allows people who are not legally old enough to drink, to expose oneself to endless amounts of debt on a choice that they may have second thoughts about shortly after making it, questionable, and BORDERLINE criminal. What can be done? Perhaps a start would be requiring colleges and universities to be upfront about the job prospects of those who leave their institutions with degrees. There is already an opinion the Colleges and Universities rig alumni employment data.Think about it. If a potential college student were to go to the homepage of a particularcollege department and see that only 1% of graduates are working in his or her chosen field, they might think twice before signing his financial future away for that degree. To ensure the responsibility is shared equally, what if when signing loan documents the aspiring student was asked to sign a letter of acknowledgment that he or she is aware of the employment prospects related to pursuing this degree with this institution. Might make everyone involved think more carefully before embarking on a potential lifetime of debt. To ensure the responsibility is shared equally, what if when signing loan documents the would-be student was asked to sign a letter of acknowledgment that he or she is aware of the employment prospects related to pursuing this degree with this institution. Might make everyone involved think more carefully before embarking on a potential lifetime of debt.
Posted on: Mon, 08 Sep 2014 12:44:59 +0000
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