More than 40% of Americans who borrowed from the government’s main student-loan program aren’t making payments or are behind on more than $200 billion owed, raising worries that millions of them may never repay.
Source: More Than 40% of Student Borrowers Aren’t Making Payments – WSJ
I wrote…
The $200 billion is a pittance compared to the productivity lost.
Education took a quick downhill turn when universities began to believe that the observations of the famous sociologist David Riesman were advice for how easy scamming students could be.
Here is Riesman.
“…the ‘wants’ of students to which competing institutions, departments, and individual faculty members cater are quite different from the ‘needs’ of students…advantage can…be taken of [students] by unscrupulous instructors and institutions…”
From On Higher Education: The Academic Enterprise in an Era of Rising Student (1980)
To see how our present system of higher education does this – and how it even destroys K-12 education – see my blog inside-higher-ed .
To see how schools like Wash. U. in St. Louis (where I taught) carry out the “wants” vs. “needs” program, see “A Tale Out of School” on my blog, but please keep in mind that Wash. U. is not alone.
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