Student loan crisis
Student loan crisis:A highly skilled or educated taskforce is an asset to the whole country and does not only benefit the students who receive a university education or a college certification. According to Robert Zaller (2012), the value of higher education will decrease in the next three or four decades, which means the job market will require people to have masters and doctorates to get employment. This premise may be very true since some three to four decades ago a bachelor’s diploma was highly valued. According to Jackson’s arguments in the Sun Times, the government should use this fact to reconsider the idea of removing public funding from education after the 12th grade. The program has partially led to a problem of student loan debts once in the university.
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The current education program is extremely expensive since every person can access loans, which has led to increased demand for a university education despite the high cost. Forgiving the loans would be a transfer of wealth downward, not upward. It is a transfer from the general taxpayer to the higher education students, which is more fair and justified than bailing out banks and putting more burdens on poor students.
Jackson, Jesse. ‘We Bail Out Banks, But Not Desperate Students – Chicago Sun-Times’. Suntimes.com. N.p., 2011. Web. 13 Nov. 2014.
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