Socioeconomic class and college success

[barrons]

<p>Can you say nightmare to administer. Who would collect and analyze all that data even if it were available and recalc every semester. A little more info would be fine for students/parents but taking it to that extreme when there is tenous connection over time at best–just not worth it.</p>

[Beliavsky]

<p>

@Pizzagirl

Beliavsky, I seriously wonder why the system you’re advocating hasn’t already been established. Almost like buying stock in a person.

</p>

<p>They may not be able to charge borrowers differential rates according to the school attended, according to [FinAid</a> | Loans | Anti-Discrimination Rules for Education Lenders](<a href=“http://www.finaid.org/loans/discrimination.phtml]FinAid”>http://www.finaid.org/loans/discrimination.phtml)</p>

<p>

Section 438(c) of the Higher Education Act requires lenders to charge the same fees to all student borrowers, except that lenders can charge lower fees to borrowers with greater financial need. This effectively prevents lenders from discriminating in the provision of fee waivers according to borrower attendance at particular institutions of higher education.

</p>

<p>In general Federal grants and loan guarantees have crowded out the private student lenders. There is also the question of how much debt 18-year-olds should be allowed to take on. An alternative to students paying back a fixed amount would be for lenders to buy shares of student income over say 20 years. To lend $100K over four years a lender would require a smaller share of income from a petroleum engineer than from a lower-earning major.</p>

[Beliavsky]

<p>

@argbargy

I’d like to see some Truth in Lending for this giant purchase that 18yos are expect to make when information is being concealed:
-You will be working for us 35 hours per week for the next four years
-You and your family will pay us $50K and you will incur another $50K in loans
-In exchange you will get room and board during the school year and a degree in Sociology

• 80% of our graduates with a Sociology degree find jobs in the field in the first 6 months and their average starting salary is $33K/yr.

</p>

<p>I started a thread on a bill that proposes to do this:</p>

<p><a href=“http://talk.collegeconfidential.com/parents-forum/1440114-bill-mandate-disclosure-earnings-graduation-rates-major.html[/url]”>http://talk.collegeconfidential.com/parents-forum/1440114-bill-mandate-disclosure-earnings-graduation-rates-major.html&lt;/a&gt;&lt;/p&gt;