Sunday, July 01, 2018

Student Loan Default Rates By Race

A pretty good synopsis here, but the actual study is here.

The statistics will not surprise you, but two items of note to help advance this conversation towards a solution and helping those in need (and I don't mean that in a socialist or Christian way).

1.  Default rates were atrociously high among students (regardless of race) who did NOT finish college.  You can chalk this up to poverty, disadvantaged backgrounds, lower intelligence, etc. etc., but I'm also going to throw in laziness because that's the main reason, as well as the politically incorrect reason (which is how you can tell if it's the real reason).  I know sociologists, professors, teachers, and counselors are all going to blame it on the environment because that abdicates people of having the responsibility of owning up to their own mistakes (and gets them votes/more funding), but it will not solve the problem until you crack the whip, crack some skulls, and teach these kids to have a work ethic.  until then, all the government money in the world won't help their education.

2.  In a very literal sense minorities (and especially women, and ESPECIALLY minority women) are for once actual victims.  Worthless liberal arts degrees masquerading as "higher education" are being sold to economically disadvantaged youths who still have to sign their lives away on the student-loan-dotted line.  And if the standards of college are lowered so low that "everybody has to go to college" you are admitting people who are not going to complete their degrees.  This puts them in debt WITHOUT A DEGREE TO GET A JOB TO PAY THOSE DEBTS OFF.  Worse, some people might actually get degrees, but they're completely worthless resulting in even more debt with no improvement in their chances of employment.

Again, when society wants to get serious about helping America's youth with college and higher education, you can start by reading this book and spreading it around like the plague.  In the meantime, do not even bother wasting your breath talking about "loan forgiveness" or "more money for education" because it shows you haven't given it any thorough thought and are too lazy yourself to really investigate and diagnose the real causes for this atrocity foisted on America's youth.

(hat tip - though I will warn you this podcast is very not-politically correct, controversial and I disagree with some of the statements made therein)

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