Student debt again

[noxiousdog]

I came across this study. about student debt and it's analysis of options.

A couple things stood out to me.

One, this is a giveaway to the rich. The debt is highly skewed to graduate students with doctors having 4-6 times the debt of BA/BS holders.

Two, my kids college is mostly fully funded, however, I would be an idiot not to run up 50k of debt to have the rest of you pay for it when it inevitably gets forgiven. If it doesn't happen, I can pay the debt out of saved money, but if much rather get a taxpayer funded gift. Any plan which isn't some form of yearly tax credits is foolish and I question the forethought of anyone designing a solution who hasn't thought of the abuses.



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[Kurth]

This is an older study from Brookings, but same point:

This report provides new evidence on which groups of students are likely to benefit the most from a policy that eliminates tuition and fees at public colleges and universities. Using nationally representative data on in-state students at public institutions, I find that students from higher income families would receive a disproportionate share of the benefits of free college, largely because they tend to attend more expensive institutions.

Under the Sanders free college proposal, families from the top half of the income distribution would receive 24 percent more in dollar value from eliminating tuition than students from the lower half of the income distribution. The non-tuition costs of attending college, including living expenses, are larger than the costs of tuition and fees for most students. Free college, which does not address these expenses, leaves families from the bottom half of the income distribution with nearly $18 billion in annual out-of-pocket college costs that would not be covered by existing federal, state, and institutional grant programs. Devoting new spending to eliminating tuition for all students involves a tradeoff with investing the same funds in targeted grant aid that would cover more of the total costs of attendance for students from less well-off families.

Free college would be huge for me personally (I have one in 6th grade, and a freshman and a sophomore in high school). But it doesn't seem fair or equitable.

[Blackhawk]

As a poor person, I have to say that for me at least, it isn't the total dollars that matter, it's the amount relative to income. As a dad on disability with two kids looking at college in the next couple of years, my ability to contribute to their education is essentially zero. A reduction of a few thousand a year, to me, is effectively much more massive than a reduction of a hundred thousand a year to a millionaire.

[DOS=HIGH]

The GI Bill drives a lot of people into the military, I wonder how much a student loan debt forgiveness/free public college program will negatively impact an already struggling recruitment. Maybe the first mission for the Space Force will be sending a representative and Chuck Norris to Kamino.