HOW TO PAY FOR COLLEGE. This week I start teaching the second semester here at Berkeley. Many of my students and students at other universities are drowning in debt – which is distorting their career moves (they cant afford to become social workers, for example), causing huge anxiety (the job market is still bad for new graduates), and creating another potential debt bubble. Yet as states continue to withdraw support from public higher education (where 80 percent of American students get their university education), tuition and fees are rising to make up the shortfall. What’s the solution? Eliminate tuition and fees for public higher education, and require instead that students pay 12 percent of their earnings for the first 12 years of their full-time employment into a fund that finances public higher education. (According to my back-of-the-envelope calculation, this would yield enough revenue.) That way, graduates who choose to high-paying careers (investment bankers, corporate lawyers, business consultants, etc.) would subsidize those who choose low-paying ones (social workers, public defenders, and teachers), and no one would begin paying until theyre working full time. What do you think?
Posted on: Thu, 23 Jan 2014 15:52:20 +0000
Trending Topics
Recently Viewed Topics
© 2015