I don’t ever recall taking out a loan for my K – 12 education. That is not the education cost we are talking about here is it?
I was amazed to find out that in Washington DC over
$13000 $25000 is being spent per K-12 student (the highest in the country) and yet the schools are failing. Kate, you are taking out a loan when schools fail. It costs everyone when kids grow up and are not productive. So there are loans and there are loans... and they all cost us money. See the article in the NYTimes 7/9/2010 for more on expenses in education.
I think people pay for that early education in various other ways, but they don’t take out a personal $50,000 loan for the first semester of 8th grade. So while I would agree that teaching in the public education system seems like a very demanding job, I don’t think students getting personal loans from a bank to pay for education is a better alternative than collecting taxes to fund a public system to which more people have access.
Much of the public system is failing. Some are working their hearts out to improve it. Another alternative is to dispense the funds to the students, and let them and their parents choose where they will go to school. Competition is needed in the school marketplace. Though I have to admit that some of the charter and voucher schools have not done as well as I expected.
I think it is good to ask why the cost of a college education is so high when it seems that the current job market more and more requires people to have this costly education in order to work. Why do we have to buy financial security?
Should financial security be an entitlement? Even if a country could afford that, I'm not sure it would promote either happiness or any other worthwhile accomplishment. Do you?
I do not believe that the only way to cut the cost of college education is to cut teacher salaries. (You are really going to have to work to prove that one to me.) Why is it that our society can offer K-12 public education, but huge personal cost keeps people from higher education?
Oh, it is not just teacher salaries. There are many administrators and other staff. Too many people on the payroll. State universities and community colleges are largely supported by taxpayers, as are K-12 public schools. I think loan programs are a great way to give everyone a chance to obtain higher degrees.
Why do some colleges not accept federal funding available to students? Might there be benefit to a college if they push loans from a given financial institution even if they are not in the best interest of a student?
I know nothing about this... unless you are talking about some for-profit trade schools.
In a way, college education is mirroring the housing market. You got these educational institutions that are selling knowledge at a relatively high price and one can only obtain this knowledge if one takes out a loan. In many cases, you don’t have a ton of options as to what kind of loan you can get because the school dictates that; just like reverse redlining dictates what kind of loan you have to get in order to obtain shelter in a given area. And these kinds of situations lead to loans that in many cases are inflated and ridiculous.
Community colleges are a good option for many. I hope that educational institutions do more than sell knowledge. Knowledge is everywhere. There is more knowledge than air. What the institutions should be "teaching" is how to put you finger up in the air and feel which way the wind is blowing.