Awesome post :) There's a lot of victim blaming in the student loan debt world. Let me attempt to explain how we can fix the system.
1) Education is too expensive (especially relative to the value it delivers).
2) But, that money isn't even going towards the underpaid adjuncts who teach the classes. wtf??
3) Tuition expenses mostly go towards administrative salaries, very very old established professors, and buildings and services. This needs to change.
4) But it can't change, because you can't just open a college and get it accreditted easily. This is a regulated industry, just like the health insurance industry. You have to do the song and dance for months in front of regulators, who have their own interests in keeping competitors out.
So, all in all, the student gets screwed, the company that hires them receives questionable value add, and the college administrators and banks make a killing.
It is a massive wealth transfer that delivers little value.
1) Education is too expensive (especially relative to the value it delivers).
2) But, that money isn't even going towards the underpaid adjuncts who teach the classes. wtf??
3) Tuition expenses mostly go towards administrative salaries, very very old established professors, and buildings and services. This needs to change.
4) But it can't change, because you can't just open a college and get it accreditted easily. This is a regulated industry, just like the health insurance industry. You have to do the song and dance for months in front of regulators, who have their own interests in keeping competitors out.
So, all in all, the student gets screwed, the company that hires them receives questionable value add, and the college administrators and banks make a killing.
It is a massive wealth transfer that delivers little value.