I agree with you here. I’ve always said, if you’re putting in work to get an education, the interest on the loan should be zero. Yes, zero.
Over time it means the lender (read: govt) loses money, so what. The increased tax income for an educated employee more than accounts for that. Even if it didn’t, what’s the downside to an educated workforce for anyone but those in power?
The government has no problem giving away 0% interest loans, often with principal forgiveness, for tens of millions of dollars to fund infrastructure. How is university not a similar investment in the future?
Yeah, in fact it’s almost trivial to argue that education in something you’re interested in results in better/more efficient infrastructure.
As an example, California uses loops of wire embedded in the asphalt at lights to sense if cars are there, meaning less delays for people because no light is green at an empty direction of an intersection.
Though that’s only mildly high tech, some educated electrical engineers had to come up with it, and it makes life better for us all, saving gas, and reduces CO2 for idling cars as well.
I agree with you here. I’ve always said, if you’re putting in work to get an education, the interest on the loan should be zero. Yes, zero.
Over time it means the lender (read: govt) loses money, so what. The increased tax income for an educated employee more than accounts for that. Even if it didn’t, what’s the downside to an educated workforce for anyone but those in power?
Education should not be a for-profit scheme.
The government has no problem giving away 0% interest loans, often with principal forgiveness, for tens of millions of dollars to fund infrastructure. How is university not a similar investment in the future?
Yeah, in fact it’s almost trivial to argue that education in something you’re interested in results in better/more efficient infrastructure.
As an example, California uses loops of wire embedded in the asphalt at lights to sense if cars are there, meaning less delays for people because no light is green at an empty direction of an intersection.
Though that’s only mildly high tech, some educated electrical engineers had to come up with it, and it makes life better for us all, saving gas, and reduces CO2 for idling cars as well.