The Elite Master’s Degrees That Don’t Pay Off
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Re: The Elite Master’s Degrees That Don’t Pay Off
#2What counts as an elite masters degree? Perhaps the descriptor should be those that offer immediate compensation benefits.
Re: The Elite Master’s Degrees That Don’t Pay Off
#3Re: The Elite Master’s Degrees That Don’t Pay Off
#4What counts as an elite masters degree? Perhaps the descriptor should be those that offer immediate compensation benefits.
TFA seems to use "a degree from an elite university"
Re: The Elite Master’s Degrees That Don’t Pay Off
#5I want to weep at the list of programs in the article:
- Journalism
- Fine Arts in Film, Theater and Media Studies
- Speech pathology
A masters degree can run 300k at these top institutions. We have laws against usury, lemon laws, price gouging, ponzi schemes, securities regulations.....etc. How can a society justify allowing young folks spending 300k of money they don't have to get a degree in fine arts?
Re: The Elite Master’s Degrees That Don’t Pay Off
#6I want to weep at the list of programs in the article: - Journalism - Fine Arts in Film, Theater and Media Studies - Speech pathology A masters degree can run 300k at these top institutions. We have laws against usury, lemon laws, price gouging, ponzi schemes, securities regulations.....etc. How can a society justify allowing young folks spending 300k of money they don't have to get a degree in fine arts ?
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Re: The Elite Master’s Degrees That Don’t Pay Off
#7I want to weep at the list of programs in the article: - Journalism - Fine Arts in Film, Theater and Media Studies - Speech pathology A masters degree can run 300k at these top institutions. We have laws against usury, lemon laws, price gouging, ponzi schemes, securities regulations.....etc. How can a society justify allowing young folks spending 300k of money they don't have to get a degree in fine arts ?
It's fine we let them spend whatever they want. What's not fine is that when it is clear they aren't able to pay it off, we don't let a bankruptcy court discharge the debt like all other unsecured debt.
Let lenders take risk, and when that risk clearly goes bust... wipe it out.
Re: The Elite Master’s Degrees That Don’t Pay Off
#8I want to weep at the list of programs in the article: - Journalism - Fine Arts in Film, Theater and Media Studies - Speech pathology A masters degree can run 300k at these top institutions. We have laws against usury, lemon laws, price gouging, ponzi schemes, securities regulations.....etc. How can a society justify allowing young folks spending 300k of money they don't have to get a degree in fine arts ?
It's fine we let them spend whatever they want. What's not fine is that when it is clear they aren't able to pay it off, we don't let a bankruptcy court discharge the debt like all other unsecured debt. Let lenders take risk, and when that risk clearly goes bust... wipe it out.
> Let lenders take risk
This. Universities should be required to eat a certain percentage of any loan that defaults, so that they always have skin in the game. A similar rule could have prevented the subprime mortgage crisis. Sure, let lenders sell house loans to higher risk customers, but make lenders themselves responsible for some portion of any bad loan, and don't let them use shell companies or bankruptcy-in-name-only shenanigans to escape their responsibility, either.
Re: The Elite Master’s Degrees That Don’t Pay Off
#9I want to weep at the list of programs in the article: - Journalism - Fine Arts in Film, Theater and Media Studies - Speech pathology A masters degree can run 300k at these top institutions. We have laws against usury, lemon laws, price gouging, ponzi schemes, securities regulations.....etc. How can a society justify allowing young folks spending 300k of money they don't have to get a degree in fine arts ?
It's fine we let them spend whatever they want. What's not fine is that when it is clear they aren't able to pay it off, we don't let a bankruptcy court discharge the debt like all other unsecured debt. Let lenders take risk, and when that risk clearly goes bust... wipe it out.
Split the risk 50/50 between lenders and the university. Then every young adult can declare bankruptcy right after graduating and have a fresh clean start with no debt.
Re: The Elite Master’s Degrees That Don’t Pay Off
#10I want to weep at the list of programs in the article: - Journalism - Fine Arts in Film, Theater and Media Studies - Speech pathology A masters degree can run 300k at these top institutions. We have laws against usury, lemon laws, price gouging, ponzi schemes, securities regulations.....etc. How can a society justify allowing young folks spending 300k of money they don't have to get a degree in fine arts ?
It's fine we let them spend whatever they want. What's not fine is that when it is clear they aren't able to pay it off, we don't let a bankruptcy court discharge the debt like all other unsecured debt. Let lenders take risk, and when that risk clearly goes bust... wipe it out.
That may sound like an easy fix, but easing the ability to discharge student loans in bankruptcy court would necessarily require higher interest rates on new loans (sans increased subsidization of student loans). That may be a palatable tradeoff, but I suspect most students would prefer cheap borrowing.