We've got a lot of governance problems. Our system allows college prices to get really high, mostly because 18 year kids can sign up for these guaranteed loans. They don't know what they are signing up for, and colleges just want students in seats. People don't know if their major has good employment prospects, avg salary and how that will affect their loan repayment.
America chose to do this, banks make big money from the loans. Colleges make big money from students.
We have a similar system with medical care. We have regulatory capture of our medical system by the drug sellers, medical groups, etc. We pay way way way more than other countries with worse outcomes. And the reaction of half the country, the republicans, it is we'll fix this by eliminating a lot of coverage for poor people. Democrats try to control costs, cover more poor people, get on a better trajectory and it's demonzied as destroying democracy. Meanwhile, our recently passed BBB bill takes billions out of medicare, ie coverage for poor people, many of whom voted for Trump. This whole thing is disgusting. I'm angry because of the loss of potential here, just like for student debt.
My dad says colleges are corrupt because they "waste money on dei things" and that's why they have high costs (sadly not making this up). I try to explain college is not subsidized like it used to be when you went to college in the 60s. Similar thing with young people not affording housing, not having kids as much.
Oh boy it actually gets so much worse than you mention. If you have W2 income the cost of college is uniquely high to _you_. Very wealthy people who claim a business loss on their tax returns (through the massive spiderweb of itemized deductions) college, even ivy leagues, are free or almost free.
Bullshit. FAFSA covers assets as well as income so wealthy families with zero taxable income aren't getting need-based financial aid. Unless they lie on the application, which is criminal fraud.
Sorta. You exclude your primary residence, retirement funds, and any college savings accounts. I def know people with millions in the first two, retired, with their kids getting full rides and food stamps.
Not bullshit at all, there are loopholes riddled throughout the FAFSA system that allows assets to be tucked away out of scope. It’s not fraud, all completely legal and purpose-built to support the types of families who can afford a financial advisor on retainer.
America chose to do this, banks make big money from the loans. Colleges make big money from students.
We have a similar system with medical care. We have regulatory capture of our medical system by the drug sellers, medical groups, etc. We pay way way way more than other countries with worse outcomes. And the reaction of half the country, the republicans, it is we'll fix this by eliminating a lot of coverage for poor people. Democrats try to control costs, cover more poor people, get on a better trajectory and it's demonzied as destroying democracy. Meanwhile, our recently passed BBB bill takes billions out of medicare, ie coverage for poor people, many of whom voted for Trump. This whole thing is disgusting. I'm angry because of the loss of potential here, just like for student debt.
My dad says colleges are corrupt because they "waste money on dei things" and that's why they have high costs (sadly not making this up). I try to explain college is not subsidized like it used to be when you went to college in the 60s. Similar thing with young people not affording housing, not having kids as much.