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don't need a culinary degree to operate a restaurant
AmericanKulak says
don't need a culinary degree to operate a restaurant
Correct. A Culinary college around here (Johnson and Wales University) was easy to get in and easy to graduate. I did notice when I went to one of the graduations, how the dean spoke ahead of the ceremony warning that grads may not get good jobs straight away. That is, a kid came in after working McDonalds, spent 4 years at J&W, then goes back to working at McDonalds.
The whole thing about Culinary degree is weird. To me this is more like trade, not much different from plumbing or welding.
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If the argument is that 100k is a ridiculous amount for school to cost, then how is paying for it with taxes or debt forgiveness going to fix that in any way ever? At least with a direct responsibility for a high tuition, people will be choosing to get cheaper and equal or nearly equal alternatives via price substitution...
Here is my take on the solution to this problem:
1) Reinstate the ability to declare bankruptcy to discharge student loan debt BUT make there be a 10 year discharge period, with a 10% income repayment cap. This allows people to get out of their debt in the event of life events, but doesn't let them off the hook entirely. It also returns responsibility to the lenders to lend less money if the student doesn't have a good prospect of finding a job with the degree they intend to pursue (or have other means of paying).
2) If the student applies for bankruptcy after completing a degree, the school becomes liable for 30% of the debt remaining after the 10 year payoff period is over for the student. This gives schools some incentive to not steer students into majors that won't let them pay the bills.
What do you guys think?