Demand the end of government-backed student loans.

 

Wayne State Univ in Detroit, MI has elected to drop its requirement in mathematics and is considering a requirement in “diversity” to graduate.

This is more than just the most recent chapter in the liberal indoctrination of the nation and another notch in the belt of those looking to dumb down America.

This is just plain insanity and a clear and concise reason to call for the end of government-backed student loans. 

Wayne State should consider the Tacoma Narrows Bridge as part of their new seal. The bridge collapsed just 6 months after opening.

Wayne State should consider the Tacoma Narrows Bridge as part of their new seal. The bridge collapsed just 5 months after opening.

When riding over a bridge, do you care if the engineer was a member of the LGBT community? Do you care if the engineer supported same-sex marriage and open borders? What you do care about is that the engineer knew and understood the necessary mathematical calculations at the time he was designing the bridge.

When you buy something at the grocery store, you do not want to hear, “Sorry, I can’t figure out your change but look at my lovely rainbow pin.”

This feeling of kumbaya, while nice and heartwarming, does very little in the way of preparing our children to enter into the world outside the cloistered confines of university life.

Eighty years ago our 20 year-olds were waging a war for freedom on two fronts. Today they require zones that are safe from micro aggressions and therapy sessions should they see “Trump 2016” written in chalk. If this is the future of our country, the future is questionable.

It is time we consider tearing down public education in order to save education. In a 2012 Gallup poll, the public school system ranked last among all other education alternatives in every category and every question asked. Less than 33% of those polled had any confidence in public education, only 12% having a great deal of confidence in it. No private corporation, outside of a monopoly could exist in such a state of perceived failure.  It is not the teachers; it is those driving and directing education.

Wrap your head in duct tape. I do not want it to explode.  I’ll wait.. Okay.. ready?   As a nation, we spend $1.15 Trillion dollars on education every year. Are you getting your money’s worth?

If there were a 100% voucher system in this country, the public school system would disappear almost overnight.  It is no wonder the teacher’s unions fight school vouchers tooth and nail.

Student loans and the free market.

Now that you know that Wayne University is dropping the math requirement to get a degree in exchange for diversity courses, how would you grade on average students that graduate from Wayne compared to students that are required to pass mathematics from University X?  Whom would you hire first? Whom do you want designing the bridge you are going to drive over?

Here’s the $64,000 question. Who would you rather lend $64,000 to for their tuition? Who will have the better chance of paying you back?

Under a free market system that would allow loans to reflect risk, loans would be priced (interest charged) according to the estimated future ability for the student to pay back the loan.  Like a mortgage where they look at your current earnings and past payments, your student loan would be rated for risk.  Unfortunately, we are dealing with future probability. The lender would need to estimate the future earning potential using a student’s grades, intended major, and school of choice. Someone who majors in ancient Mayan art history would need to pay a higher rate of interest than someone who majors in medicine, physics, or engineering.

After trading math for diversity, what comes next?  Legos in place of literature?

Where you are going to school would also affect your rate of interest (the amount of risk you pose to the lender).  Going to Wayne University?  Sorry, we have to charge you an additional 3 pts of interest. We’ve had a lot of bad loans coming out of Wayne.

All of a sudden your choice of school might change from Wayne to another school where their graduates do better in the real world.  The world where a Ph.D. in Kumbaya does not translate into very much.

In such a world of free markets, the Board of Directors brings in the Chancellor of Wayne University to see why enrollment has dropped off the charts.  “I do not know. We cut the math requirement to make it easier to graduate and replaced it with a whole bunch of feel-good diversity classes. We also gave everyone a participation trophy instead of a diploma.”

In a free market, schools would have to step up their game.  They would have to compete for students.  And competition does what kids?  That is correct; it lowers prices and produces better products.

Schools would also have a vested interest in how their students were doing.  They might ask you why you were getting drunk on Wednesday with a test on Friday. After all, if you flunk out and default on your student loan it now affects their future earning capability.  As it stands now, they get money from the government after you sign on the dotted line.  They could care less what happens to you after that.  Become a star or work in Starbucks, it is all the same, they have their money.

(There’s a lawsuit against Trump University?  There should be a lawsuit against EVERY university for students failing to be successful.)

Students could see exactly how the free market rated each school by the interest charged (repayment risk) for related majors at different schools.  The way it is now with the government in charge and artificially low rates, you have no idea what you are getting into.

Bond rating agencies are considering changing $40 billion of student loan debt from AAA (the highest rating) to junk status. That is not just a problem; that is an inconvenient truth; that is a sham or fraud uncovered. I expect more and more student loan debt to be downgraded.

No more Ward Churchills and professors linked to terrorist organizations at our universities. No more courses on Lady Gaga. Universities would be forced by the free market to produce a better product at a lower price. And who would be the beneficiaries of such improvements?  The students, the taxpayers, and our country.

This has been rattling around in my head for a long time.  I want to thank Wayne State for placing the last straw on the camel’s back.

 

 

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