A Quote by Charles B. Rangel
Since most American students cannot simply pay their full tuition out of pocket, financing a college education often takes the form of loans, both private and from the government.
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When students have access to low-interest loans and government aid, colleges have no incentive to cut costs. Why should a college lower tuition if more students are able to pay with subsidized loans from the government?
The fact that you have government-guaranteed student loans has created a whole new sector in the American economy that didn't really exist before - private for-profit universities that sell junk degrees that don't help the students. They promise the students, "We'll help you get a better job. We'll arrange a loan so that you don't have to pay a penny for this education." Their pet bank gets them the government-guaranteed loan, and the student may get the junk degree, but doesn't get a job, so they don't pay the loan.
Students often approached me about state-paid tuition while I was out campaigning. After I explained to them that if the state pays their tuition now, they will pay higher taxes to pay other people's tuition for the rest of their lives, most of them ended up agreeing with me.
Part of Obamacare eliminated the private sector financial market that engages in giving college student loans. I mean, now the federal government has taken over college student loans, so I sit back and strategically look at this and say this just cannot be happening.
We build schools and give government loans and grants to college kids; for those of us who are parents, tuition will often be the last big subsidy we give the children we've raised.
We must fundamentally restructure our student loan program. It makes no sense that students and their parents are forced to pay interest rates for higher education loans that are much higher than they pay for car loans or housing mortgages.
If there were no government-guaranteed student loans, college tuition would be much lower.
In Germany, college tuition is free. In America, college tuition is increasingly unaffordable. In a highly competitive global economy, which country do you think will have the best educated work force and a competitive advantage? We must make tuition free in public colleges and universities and substantially reduce interest rates on student loans.
Despite the evidence that we already have too many students in higher education, the hot new idea among the political class is to double down by pushing for 'free college tuition.' The problem with the 'free college' idea is, however, not merely financial. It also reinforces the myth that college is appropriate or even possible for all students.
Pell grants are critical tools for lower- and middle-income students to access higher education, and by expanding access to year-round courses, we can help non-traditional students complete their education sooner, allowing them to start their careers and pay off their loans.
Students take out loans with the expectation that they will receive an education that sets them up for success - yet too many students are left with enormous debt from predatory institutions and no education to show for it.
Our approach to education has remained largely unchanged since the Renaissance: From middle school through college, most teaching is done by an instructor lecturing to a room full of students, only some of them paying attention.
Democratic politicians want to solve the crisis of poor education by taking more of your money and using it to reduce classroom sizes in the government schools. Republican politicians want to solve the crisis by taking more of your money to provide vouchers to a handful of the poorest students in each area, paying for a part of the tuition expense at private schools. But before long this 'reform' would make those private schools indistinguishable from the government schools ... Vouchers are an excellent way for the government to increase control over private schools.
Anyone who sends their children now to government schools usually does it because they can't afford private education. I went to a government college where 350 out of 400 girls said their brothers go to private schools.
The best math lesson we can teach college students this year is to subtract a tuition increase and benefit from the dividends of higher education.
The loans I took out for my undergraduate degree were manageable. But my legal education was more expensive, and I paid for it almost entirely through public and private loans.
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