Try basing college tuition on the weight of degrees
In the real world, financial institutions grant people loans based on their ability to pay them back, using collateral such as a home or other assets. There is also intellectual capital, which some lending institutions use as intangible collateral. Should it be any different with educational loans?
Consider the impact if loans for college would use “potential to pay back” as the criterian. The major selected would determine the amount of the loan. For example, a degree in engineering would command a much bigger loan than a degree in art history simply because of the historical earning power associated with the respective degrees.
Colleges might also consider different tuition rates based on the employability and average earnings of degree holders. For example, tuition for a student seeking a bachelor’s degree in computer science would pay a higher tuition than someone matriculated in gender studies.
Just food for thought.
Ronald W. Pokorski