<p>This has obviously been a hot topic. . I am a parent and step-parent to 6 college grads, with another student due to go on next year. My youngsters have attended Ivy Leagues and small elites, as well as state schools, and all but one have gone on to grad schools. As a result, and with hard work, all of those youngsters are working at good paying jobs. Those who have attended grad schools have loans – but have also achieved the ability to pay them off. </p>
<p>However, I am shocked by the differences in funding from school to school at the undergraduate level. We were fortunate to have been one of the early recipients of the no-loan policy from Davidson College. Only grants are given to meet aid. I am proud that Davidson folks will be testifying before a US Senate panel regarding their practices to show how this can be done.</p>
<p>In comparison, I have also seen my daughter in law strapped with a loan from a school that was ‘cheaper’, but in a situation where she will probably never be able to pay off the loan due to the availability of jobs in her field…or will have to choose to change careers.</p>
<p>I believe EVERY heavily endowed school should be creating an all grant environment…and maybe even not so heavily endowed schools. If the graduates are successful, the graduates will fund endowments. If not, the school may cease to exist…and maybe that would be for the best. </p>
<p>I think it’s time to make the schools accountable – for accepting the students that they do, to study in the fields that they are studying. If the degrees are not financially sustainable, then only those who have ‘discretionary income’ for ‘fun topics’ should attend, well warned that what they are getting is not preparation for the future – but esoterics.</p>
<p>I am not saying that there isn’t a place in our world for art-history majors – but how many of them should we be graduating? And shouldn’t they know, upfront, that chances are they may not get anything for work in their area of study?</p>
<p>Let’s face it. Most kids don’t go to college thinking they’re going to come out slinging burgers or doing menial secretarial chores… And while some may simply not have had the skills or talents to go for big time jobs shouldn’t the colleges that accepted and graduated them, and kept them on board with hope for something that proved unattainable share in that responsibility? </p>
<p>Shackling kids to college loans is going to do nothing to help us get out of the current economic crisis – but making the colleges be part of the solution – the people getting the tax breaks and the tuition money in – might just help</p>