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Trump wants colleges to have ‘skin’ in student loan debt game | Fox Business
The idea here is that colleges are creating majors that create little or no employment income. But if you look at any college campus, there is loads of construction going on. Too many students are gong to college, and the college is trading loans for useless degrees and the taxpayers are stuck with the bill. Trump's idea is to have them partly responsible for the debt. The idea is that they will be more cognizant of the ability to earn a living and pay back the debt, rather than use these loans to buff up the construction budget.
Each time the loan cap is raises, tuition goes up. I wonder why.
The Trump administration, seeking to tackle the mounting student loan debt Opens a New Window. issue, is weighing the possibility of requiring colleges Opens a New Window. to share some of the financial burden.
Officials outlined a proposal to require colleges that accept taxpayer funds to have skin in the game through a loan risk-sharing program, released on Monday.
Students are required to pay back their loans regardless of the quality of education received, which may directly affect their ability to fulfill obligations as a borrower. Unfulfilled obligations bear no consequence on the college.
A better system would require postsecondary institutions accepting taxpayer funds to share a portion of the financial responsibility associated with student loans, the document read, adding the administration planned to work with Congress on the issue.
The idea here is that colleges are creating majors that create little or no employment income. But if you look at any college campus, there is loads of construction going on. Too many students are gong to college, and the college is trading loans for useless degrees and the taxpayers are stuck with the bill. Trump's idea is to have them partly responsible for the debt. The idea is that they will be more cognizant of the ability to earn a living and pay back the debt, rather than use these loans to buff up the construction budget.
Each time the loan cap is raises, tuition goes up. I wonder why.