Once upon a time, people who 'got to go' to college generally came from rich families. It was determined that this was unfair, that 'anyone' should have a chance to go to college.
So student loans began as a way for those who do not have the cash in hand, or in daddy's bank account, to be able to attend college or university and pay back the loan starting 6 months after graduation from the program.
But one day, this became too difficult. Former students did not want to pay back the thousands of dollars that were loaned to them by tax payers, or they were in financial distress and could not pay them back, so many loans were forgiven or the interest was removed, or a lower payback amount was negotiated. Eventually the govt decided that Student Loans were a nightmare and too much money was being thrown away, so they discontinued much of their aid. Some students could still get different loans from various institutions, or apply for grants that they did not have to pay back at all, and life moved on.
But then one day, students started complaining that college/uni was too pricey and they were leaving school with tens of thousands of dollars in debt, unable to live off the money from their new jobs while paying back the loans. Many people began to cry out that post-secondary education should be 'free' or vastly cheaper for the students, with the bulk of the cost picked up by tax payers. After all, these students are the future of our land, the future taxpayers who will be paying for us when we retire. So let's help them out by subsidizing their choice of college program. As long as they are enrolled and passing their courses, we will foot the bill. It's only fair, as fellow human beings.
A generation of college students enjoys this new bliss, making way for the next generation. The new kids never had to worry about tuition fees because they started college after the new funding began, they didn't know what it was like to struggle with tuition, books, exam fees, prof salaries, janitorial services, cafeteria staff, support staff, etc.... But they discovered another problem - it was very difficult to work part time jobs while studying. The students were struggling to pay their rent, buy their food, pay their utilities, and put gas in their cars. They were studying their little hearts out, working hard to do well in their courses, so why should they have to struggle with bills? Maybe taxpayers should pay for that as well! After all, these students are our future, so how can we expect them to flip burgers at night when they should be studying for tomorrow's exam? That is so unfair!
We should subsidize their education and their living expenses.
It will all pay off for us one day, I promise!
a glimpse into the future ©KLT2010