Rantings and tirades of a frustrated economist.
This is a perfect example of government intervention creating unintended results. The federal loans and aid, are putting the education market out of whack. These education programs are more concerned with trapping education subsidies, then creating value for the students. The cost of these educational programs, would be much lower without federal aid. This is also why the cost of post secondary education, continues to soar year after year. In past generations, students did not have massive student debts to repay. All these silly government education programs, are a recent deviation, with terrible consequences.
I agree with Anonymous's comment above, about how the federal student loans and aid are creating an artificial market. However, given that the article's criticism is entirely directed at for-profit trade schools, I have to ask: how many of these same criticisms could be leveled at the more traditional state and private four-year colleges and the state two-year colleges? I highly doubt it is only for-profit trade schools that are exaggerating their placement rates and encouraging their students to take on large amounts of debt.
I agree with anonymous. Univ. for Profit and third level community colleges are cranking out folks with meaningless degrees and/or degrees in oversaturated areas (business, early childhood development, finance, etc.). I feel for the kids who invest their time and hard-to-come-by funds into these programs. Has anyone tried to get a good plumber, mechanic, electician latelY?
"I highly doubt it is only for-profit trade schools that are exaggerating their placement rates and encouraging their students to take on large amounts of debt."The article is in the New York Times. I suspect they might have an axe to grind here.Unbelievable, I know.
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