Earlier quoted context omitted.
How was it dumb? You have a generation of Americans who were told repeatedly and often in their teenage years that if they wanted to be able to compete in the global job marketplace, they'd need, at the very least, a bachelor's degree. As it turns out, employers were going to offshore those jobs and cut those wages regardless of your education. The value of degrees was wildly over-inflated compared to the economic re…
We should allow students to discharge their loans if they cannot repay them. This means risk will be assigned to borrowers and that would squeeze the ability for kids to take out loans on stupid majors that have absolutely no hope of ROI, as currently priced.
The problem comes from the fact that a lot of Millennials were told by their parents that having a degree was what mattered, not what the degree was for. That was probably true in their day; it wasn't true in the 00s. Kids were told to follow their dreams. Now those same parents scoff at the idea of meeting their now-adult children halfway in order to let them gainfully participate in the economy. It's insane.