Leftist activists and their supporters continue an endless assault on the quality of private college education and the alleged “crisis” of student loan debt.
The reality is that a college education comes with a hefty price tag and commitment regardless of whether you attend a public, state-supported college, a private university, or an Ivy League institution. But a college education is still one of the best investments you can ever make in yourself.
American consumers think nothing of taking out a conventional bank loan for a $30,000-plus automobile, yet activists suggest wrongdoing when debt is associated with an education. A new car depreciates as soon as it leaves the lot and must be paid off in a few years. Student loans can be paid over decades, with lower interest rates than conventional loans, making them more affordable.
Education activists Robert Sherman, Mark Halperin and others want us to believe that student debt is forced on innocent, ill-informed college kids. Yet opponents fail to mention the financial responsibility involved with taking out student loans. A 2017 survey — research from LendEDU — revealed that nearly one in three college students acknowledged using his/her student loan to pay for a spring break vacation. Moreover, borrowers are required to sign endless amounts of paperwork and disclosures before accepting student loans. Loan repayment obligations are clear and transparent.
The same survey also revealed how nearly a quarter (23.80 percent) of respondents said they have used student loan funds to buy alcohol or pay bar tabs. One-third (33.40 percent) of students said they used student loan money to buy clothing or accessories, and a like number of students say they used student loan money to pay for restaurant meals and take-out food.
Nearly 7 percent of the respondents acknowledged they have used student loan funds to purchase drugs. And 5.60 percent of students participating in the survey acknowledged using student loan funds for gambling or sports betting. Activists neglect to acknowledge how misusing one’s financial resources should be a relevant factor in considering any remedy to a student loan “crisis.”
Many propose a one-size-fits-all approach to education, similar to the health care plan pushed through by the Obama administration. It is ironic that many elitists’ children attend private schools, yet they are unwilling to recognize the benefits of vocational education and the need for private schools as a free-market balance to our education system. Every individual has the right to choose the best educational option that works for them, their budget and their families.
Veterans, single mothers and minority students often attend private, career-oriented colleges in greater numbers and earn degrees that lead to rewarding careers and good-paying jobs. Educational activists hope to reduce private college education options in favor of a government-run, mandated system that will fail — just like many inner-city public schools are failing.
Labor statistics have revealed a massive shortage of skilled workers in America. This “skilled worker gap” has become one of the largest problems facing our nation and our labor force. Six million skilled worker positions are waiting to be filled. These are good-paying jobs, yet employers have difficulty finding qualified candidates to hire.
Perhaps it is because our colleges and universities have veered away from offering skills-oriented, practical and career-focused education. Many schools across the country are eliminating useless degrees and offering courses that will allow students to be compete in a fast-paced, competitive workplace leading to better career opportunities.
In addition, many students lack critical cognitive and behavioral skills — skills that are often more valuable to employers than specialized job training. In response, some colleges are now focusing on the “soft skills” necessary for jobs such as required class attendance, prompt class arrival, dressing professionally, leadership development, and how to respect and serve others.
Employers who are driving America’s future are actively looking for skilled, well-rounded employees and the job applicants with these sought-after soft skills are first to land competitive, higher-paying positions.
The left’s recipe for higher education is failing. The Trump administration and the Department of Education are working to roll back regulations promulgated during the Obama administration that had the intent of shutting down private non-profit and for-profit schools.
Congress needs to work actively with the administration and Secretary Betsy DeVos to pass legislation that will permanently eliminate regulations limiting educational opportunities for students. A free-market based educational system that offers students a wide variety of options is strengthened through competition and is the best way America can produce skilled workers prepared to compete in our global economy.
