[Marxism] The higher education bubble
markalause at gmail.com
Wed Jul 28 07:36:52 MDT 2010
This blip in the default rate is another byproduct of the one single
achievement to which fans of the eight-years of Clinton can point: a
reformed system of grants and loans to get people to go to college. After
all, in the capitalist world view, unemployment simply comes from a lack of
The reality is that these were often used to make up for the Reagan-Bush era
attacks on the social safety net. Rather than to show some elementary guts
and restore a lot of those cuts, the Democrats opted for this
education-route based on the mythology of how people become employed.
Almost immediately, those large freshmen classes in state university filled
with people who never, ever showed up. As some of us argued at the time,
the entire Clinton package on education was about running money through the
fingers of those students into the coffers of the universities and colleges
(who were all then participating in that building boom).
A certain portion of these kids stayed at it and took out loans. Most of
these didn't graduate and those who did found that their Business Tech
degree wasn't going to land them a good job.... That along would increase
the portion of those defaulting on loans.....
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