Sunday, November 6, 2011
College Students Debt in Rough Times
This article is great. I agree that there should be help for college students and the debts they acquire while in school. It gives students who can't find jobs less pressure to find one. With the given economy there is not much you can do to help create jobs because if there was people would have figured it out by now. But if you decrease the interest rates or make it so students don't have to pay debt back until they reach a certain income then that will encourage people to go to college. This would greatly help our economy. I understand it would increase the labor force but it would help the America by making the average worker worth more. It would also encourage companies to hire Americans with degrees rather than foreigners. Companies higher foreigners because they typically are more qualified than Americans. If you make college more obtainable people would go to higher education degrees such as a masters or a doctorate. People would be pushed farther because there are more people in the labor force. People would become more educated and it would help our nation.
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It is a pretty good news, no matter for the current college students or the ones who are going to enter college in the next several years. It does happen that during the recession colleges are raising tuition but decrease scholarshios. Accordingingly, some student may give up their education plan because of the higher price and lower family income. Hope this act will work efficiently soon.
ReplyDelete"Higher education is not a guarantee of employment, but it improves the odds immensely. Unemployment rates among university graduates stood at 4.4% on average across OECD countries in 2009. People who did not complete secondary school faced unemployment rates of 11.5%". Acquiring human capital through higher education is, in my opinion, the most important concept in labor economics. The earnings differential between those who have a college degree and those who do not is huge. Any help with increasing the education level in the United States will be beneficial to everybody.
ReplyDeleteInteresting article. I agree that funds for education should be made easier as it augments the quality of human capital in the economy which is so necessary for consistent growth in technology and steady state as a result. However, I am also vary of the costs of education and I feel that if that is not looked into, we could be heading towards a education bubble, which could lead to another recession!
ReplyDeleteThis is something that I think a lot of us think about as it comes closer to the end of our college career. College debt can be a very big burden for a number of years. Anything that can help relieve money ties in the weak economy is a big plus for many families all over the country.
ReplyDeleteHigher education should be the responsibility of the nation to be provided for everyone and paid for with taxes, for the nation to benefit from a well-educated population. Which reduces the problem of student debt and limitation of access to higher education for lack of income to much more manageable levels.
ReplyDeleteOf course, the problem what to study persists. But the system of privately paid for education has so far only lead to students piling into courses for jobs in which they expect high incomes to pay for their debt (law, business administration, finance etc.), rather than those in which they expect to do a good job or can have any reasonable expectation to do anything for their society. There is no western country in dire need of more lawyers, business administrators or money jugglers with inclination towards running obfuscated pyramid schemes for the profit of themselves and their employers.