Trump is back again. The entrepreneur – despite rhetoric – has made a few remarks that have surprised the people.
He has a problem the government reaping profit from student loans, which seems a bit of an oxymoron to some, but when you think about Donald Trump and his own life: he’s been rich, bankrupt, rich, poor, rich…and in between it all, he’s never had to apologize for his successes, or his failures.
And like Senator Elizabeth Warren; he feels that the government is making a hefty profit from student loans. And though he hasn’t come up with concrete resolutions as of yet, the fact he has mentioned it has turned heads.
Now, there are many that say that the government does not gain a profit from student loans. And yet, the Fair Credit Reform Act shows that the government makes a profit that couldn’t be described as “fair value”. That maybe because while accruing interest and fees, the student loan program never really put into plan any contingency if there was; say, an economic meltdown?
While it may be true that one can’t account or plan for a future when there is no profit or loss, the rate – and interest rates, primarily – make graduates coming out the gate losing without even a chance to start.
There has been years of debate: the wrong choice in schools, the wrong choice in degrees, etc…
But at what point does the government decide that allowing schools to profit is the wrong way to go?
Let’s be honest: even Trump sees it, why can’t everybody else? The institute of higher learning has already been reprimanded on multiple occasions for letting credit card companies onto the campus to recruit new “customers”. How an out of high school, new to college teen can even pay the bills is incredulous enough.
But when you factor in the schools that are about “higher learning” that happen to have a few big investors that “contribute” in order to ensure the school’s “legitimacy”?
These questions are brought up not because people will answer for them, but because our economy did crash. We did find an economic crisis in which millions of people lost their livelihood, and the job market tightened to the point that even people that had invested in 401k’s found themselves at the same level as a 16 year old working fast food.
And while most people would tell us that Donald Trump is the wrong man for the job…he’s made his success not from Ivy League schools or contributions, but from taking risks. And it is something people may find a curiosity that of all things: he feels that the government shouldn’t profit off our youth.
After all; they are our future, are they not? How can our future sustain us if they are too busy trying to pay for something that; in many ways, the price isn’t worth the effort?