This is my solution to the problem of Student debt.
We all know that the cost of a college Education is far over priced.
In 1960, the cost of a college education was $2,015 per year.
A 1960 dollar is worth $9.95 today so the cost of a college education today should be $20,049.25.
I must ask then, why does a college education today cost $48,510 per year? This is the real problem with a college education today, Outrageous cost.
What is being taught really has not changed. two plus two still equals four. The majority of facts being taught today are the same facts that were taught way back when.
The late Bud Day pointed out in his autobiography that the cost of a college education tripled at the end of World War II because of the GI Bill. With so many GIs coming home and seeking a college education, the colleges realized that they could charge what they wanted because the government was paying for it.
Much is the same today, because the mantra is that you cannot succeed without a college education.
Now with the effort to forgive student debt, the colleges will again raise their prices because the government will again be paying for it. What we need, instead of forgiving debt, is price control. Another alternative would be for the Department of Education to create some sort of equivalency degree so that a person can legitimize his on the job experience.
A third alternative would be this: If you want your student debt eliminated, you must first volunteer to serve six years in one of our armed forced. After completion of your six year enlistment, and upon your Honorable discharge, your debt will be forgiven.
We signed up for the loan knowing you would have to pay it off with interest. There is no way around it. So why should we not have to make good in the agreement you willingly signed? What's next are people going to demand loan forgiveness on the loan agreement they signed to get a new car? So they can keep the car and not pay the loan off? Frankly loan debt forgiveness in any for is people wanting to escape from their personal responsibility.
Also collage isn't the end all be all. Trade schools and certification programs are an option. Options that cost a fraction of what a collage degree goes. Both also can provide a person with the skills and knowledge needed to make a good living.
Also there is also a government funded trade and certification program out there called Job Corps. As someone that graduated from the program I'd much rather see my tax dollars go to funding it and expanding rather then paying off anyone's student loans. Because when you are in Job Corps dicking around and partying isn't a option. You are their to learning a trade and/or obtaining certification's and that's it. Because both are your job while you are in Job Corps and just like a job in the adult world, you can be fired from the program for being a bad employee.