Tucker Carlson Calls For Utilizing University Endowments To Pay Off Student Loan Debt

Discussion in 'Education' started by Lil Mike, Oct 29, 2019.

  1. Lil Mike

    Lil Mike Well-Known Member

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  2. btthegreat

    btthegreat Well-Known Member

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    Endowments are not normally so structured. The donor rarely puts 'student loan' in the fine print as the goal, and those who manage the investment portfolio normally have a very different set of priorities. That does not mean we can't pass a law requiring a cut in the action be devoted to defray some costs for former students in need of extra support in the university... Its a drop in the bucket to what is needed but drops can fill small cups that become gallons eventually.
     
    Last edited: Oct 29, 2019
  3. Lil Mike

    Lil Mike Well-Known Member

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    It's not a drop in the bucket for the Ivy league. Harvard's endowment is almost 40 billion dollars.
     
  4. btthegreat

    btthegreat Well-Known Member

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    My guess is that former Harvard grads may not be quite as far behind in their loans as some others either.
     
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  5. Zorro

    Zorro Well-Known Member

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    Tucker's right. The student loan program is a massive wealth transfer from the Working and Middle Class to fabulously wealthy universities.

    In 2005 universities with over a $Billion in endowment totaled $219.37 billion.
    By 2015, the universities with over a $Billion totaled $394.96 billion, an increase of 80%.
    2018, the total further increased to $479.23 billion.

    Where does it stop?

    "FIGHT INEQUALITY: ABOLISH HIGHER EDUCATION". College Was Supposed to Close the Wealth Gap for Black Americans. The Opposite Happened.
    https://pjmedia.com/instapundit/466494/

    With these folks it's always a scam and a rip off.
     
    Last edited: Aug 7, 2021
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  6. Lil Mike

    Lil Mike Well-Known Member

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    This thread started in 2019 and I think it seems a better idea now than then. It makes sense that the people who caused the problem, but accelerating the cost of schooling, should pay for it.
     
  7. FreshAir

    FreshAir Well-Known Member Past Donor

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    harvard students, probably do not need the help with their loans
     
    Last edited: Aug 8, 2021
  8. Lil Mike

    Lil Mike Well-Known Member

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    That's a lot of money sitting on the sidelines.
     
    Last edited: Aug 8, 2021
  9. kazenatsu

    kazenatsu Well-Known Member Past Donor

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    Yes, it's amazing with the liberal progressive propensity to want to grab any large hoards of money that exist and spend it, that they haven't grabbed these endowment funds from their own elite universities. Maybe the ranks in their masses are simply not aware of them, the mass media has not turned their drum beat towards making the commoners look at that issue.

    Of course the Democrats in leadership are not entirely stupid and would never do that, but if the common Democrat voters had their way they probably would sack those endowment funds.
     
    Last edited: Aug 11, 2021
  10. Mircea

    Mircea Well-Known Member

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    Notwithstanding the fact that Carlson is a liar and wrong, there is no problem.

    This so-called problem is one manufactured by Liberals using the standard Göbbels playbook.

    $1.5 TRILLION -- which Liberals round up to $1.6 TRILLION is the total amount of government student loans issued between 1976 and 2019.

    It is not the total amount of student loan debt outstanding that Liberals would have you believe.

    25% of student loan defaults occur in the first 5 years.

    That suggests minor policy changes could fundamentally alter this manufactured crisis:

    1) Why is the interest rate 8% shifting to 10%? The mortgage rate 2.47% in some places. Yeah, I get that there's collateral there and not with student loans, but damn, interest penalties for debt to the IRS is 4% shifting to 5%. Lowering the interest rate to 4% then 5% would help.

    2) 25% defaulting in the first 5 years is neither shocking, nor illogical nor unexpected. Graduates are trying to establish themselves in a career, and there are costs associated with that, like relocating, sometimes not too far away and sometimes really far away.

    Why not extend the grace period to 3 years? 3 years, no interest, make whatever payments you can without penalty. 4% interest at 4 and 5 years, pay what you can without penalty. At 5 years and after, 5% interest and penalties for late payments, but no monetary penalties. A credit ding is sufficient.

    3) The groups most likely to default are Liberal Arts at 26% and those who go to the fly-by-night private wonder schools, especially the 1-year certificate schools and 2-year associate degree schools.

    Some policy changes there might be Liberal Arts majors only qualify for student loans in their junior and senior year, and people going to the fly-by-night wonder private colleges like Chatalot College and University of Phoenix get loans only for approved degrees.

    Why? Where's the logic in getting $15,000 to $30,000 in student loans to get certified as a CNA or STNA and then get a job that pays $8.00 to $10.00/hour?

    Do you not see a problem with that?

    It is not unlike a problem that you had in the late 1960s that will surface again in a few years.

    You had rampant Wage Inflation due to the introduction of new technology. Business, industry, and government were buying IBM and Hewlett-Packard main-frames, but there were no key-punch operators to run them.

    Key-punch operators were getting paid $10/hour or more.

    In before the morons say that ain't nothing, well in 1971 your average American made $6,497/year.

    Key-punch operators were making $20,000+/year, more than 3x your typical American.

    So, what happened? Business, industry and government went to the high schools. You teach typing and stenography, right? Well, then you can teach key-punch, which was basically typing on steroids and that's what happened. In a few years, the market was flooded with key-punch operators which drove the wages down to minimum wage, and then by about 1980 they all transitioned to data-entry operators on keyboards.

    You're gonna have the same problem in a few years when Boomers blow up your Medicaid system.

    Why do you think some States allow you to have a home valued up to $750,000 and still qualify for Medicaid?

    Um, 'cause having a CNA or STNA come round 2-5 times a week for 4 hours or so is a helluva lot cheaper than parking your old skin in a long-term care facility that charges $4,800 to $12,000 per month.

    That's why.

    You don't need college for that. That's high school vocational school stuff, and that's how other countries do it.

    What about people who don't think about being a CNA/STNA until after they get out of high school?

    Why is that a problem?

    The high school is a fixed asset and fixed cost. I guarantee you the high school will not get up and run away. It's gonna be there for a while.

    You need only charge an instructional fee to cover the cost of paying qualified instructors to teach evenings/weekends, cover instructional materials, cover variable costs like maintenance and the extra electric/gas for the HVAC system and lights, and maybe a slush fund to cover the cost of future technology to keep students current.

    That ain't $15,000/year.

    There are a lot of policy changes that could be made, but don't expect Liberals to make them.
     
  11. jack4freedom

    jack4freedom Well-Known Member Past Donor

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  12. Zorro

    Zorro Well-Known Member

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    No he isn't and he's right. You are wrong on both counts.
     

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