CMV: In order to 'solve' the millennial student debt crisis, universities should move to a model where students pay no money up front and repay universities through wage garnishment for the first 5-10 years of their career.

The same thing that happens to insurance companies when people who have only paid in $10,000 get sick and pull $500,000 in medical expenses. The (high)% of people who have insurance and don't use it will cover (low)% that do.

Current completion rates range from 11-64% depending on the university. A system like this simply cannot accommodate that.

If dropouts prove to be a sufficient drag on the system, we can adapt. For example:

1) Screen for risk of dropouts and adjust acceptance rates accordingly.

That require a massive amount of effort and would likely not be effective and finding people who are going to drop out.

2) Recognize needs of those who are dropping out and adjust the system to compensate.

I'm not sure what you mean by this one.

Sounds great. I hear people who get graduate degrees command higher salaries - universities will want to invest in them heavily. I'm sure a good medical school alone could carry an entire universities finances.

That's not how it works though. After you graduate and move to a master or PHD program

/r/changemyview Thread Parent