Any vaguely normal market would have killed bad colleges long ago, but they’ve been propped up by the notion that everyone needs a college degree and therefore the government will underwrite a nearly infinite amount of student loans for absolutely anything
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Default requirements already exist. Look up CDRs. The problem is that they are measured too close to graduation.
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Yes, needs to be cumulative
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Yeah the way they measure Cohort Default Rates at the Dept of Edu way understates the true default rates for a cohort over their full loan term
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Man could I blow your mind with some research I did back in 2008. Shorted for profit colleges before it was fashionable. 2nd and 3rd tier "universities" aren't much better either
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What are the highlights from your research? I am interested. You can DM me.
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Why not just abolish government involvement in student loans so that prices will come down? Less people need postmodernist neomarxist indoctrination anyway, they get more than enough in government middle/high schools. They should be learning real skills not gender studies.
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That viewpoint has a place on the right wing of the Libertarian Party. You'll feel at home there.
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Seems like
@LambdaSchool is an example of the market providing a solution to education funding, sad that it is at a competitive disadvantage because central planners meddle in the education marketplace with their stolen funds (which they call "taxes"). A distortion of the market.
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I wish the government wasn't in the loan business at all
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Frees up a lot of money for other things, too. Like tuition at decent colleges.
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Or just pursue a graduate level degree! Thanks, budget control act of 2011!
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Direct measure of efficacy. If the education/placement is *worth* anything: near-zero defaults. Perfect.
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PREACH IT
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They also aren't cumulative, they are a point measurement
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It’s not just eduction either! Our entire banking institution is built on the premise that people will fault. If the only way to succeed is by ensuring a chunk of people fail, your model is corrupt and immoral!
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