Re: Doomed, alas
"The best thing Congress could do is tackle fundamentals such as education and side issues like student debt (and, while they're about it, debt in general)."
Dead simple, the students that have taken out loans need to pay up and the government needs to stop making the loans which have had the affect of skewing the education system. Once government backed, simple to get and undischargable in bankruptcy loans became the norm, colleges scrambled to add courses of study that would appeal to more students even if those degrees were absolutely worthless in the real world. What exactly to you do with a degree in "Gender Studies"? Do your prospects improve if you spend even more and go for a Doctorate? As far as getting financing, it's not a problem. Coupled with almost no eduction in the latter years of school for most US students in personal finance and economics, they expect that those kids will be able to make a considered decision about incurring massive amounts of debt. Congress could do some work in the very least to cap loans in a way that's tied to expected earnings in a particular field relevant to the degree being sought. A Masters in art history can lead to a well paying job for a museum or historical society, but the number of jobs in that field is in the double digits worldwide. On the other hand, a degree in mechanical engineering with a specialty in rotating machinery or an BSEE with an emphasis in analog sensors can find good paying work with lots of choices even when the economy is in the dumps. (ask me how I know).