Home > Uncategorized > According to Politicians and Pundits, the Road to Riches is the Road to Fulfillment

According to Politicians and Pundits, the Road to Riches is the Road to Fulfillment

May 23, 2019

Yesterday’s NYTimes featured an Upshot article by Kevin Carey titled “Can Data Ward Off College Debt? New Strategy Focuses on Results”. Unsurprisingly given the avariciousness of the current POTUS, the pro-privatization tilt of his Secretary of State, the GOP, and the neoliberal wing of the Democratic Party, and the unfailing faith in Capitalism on the part of many voters, the EARNINGS are the “results” the “new strategy” intends to measure. Need evidence of this assertion? Here are two paragraphs from Mr. Carey’s essay, describing the “new accountability system” proposed by Senator Lamar Alexander:

Mr. Alexander proposed a “new accountability system” based on loan repayment rates for individual programs within colleges. This, said Mr. Alexander, “should provide colleges with an incentive to lower tuition and help their students finish their degrees and find jobs so they can repay their loans.”

Both Mr. Trump and Mr. Alexander, despite their strong criticism of President Obama on education, are following in the footsteps of his regulatory crackdown on for-profit colleges and short-term certificate programs. Rather than evaluate sprawling educational conglomerates based on the average results of hundreds of programs, the Obama rules disqualified specific programs whose graduates didn’t earn enough money to pay back their loans.

In earlier blog posts I railed against President Obama’s metrics because, like those of Mr. Alexander and the POTUS, they assumed that the purpose of college was to land a job that pays enough to allow the student to pay back loans for college. In effect, college exists to make certain banks collect enough interest to remain profitable.

Mr. Trump and Ms. DeVos know the facts about debt… and presumably Mr. Carey does as well. While only 6% of college students in NYS attended for-profit schools, 41% of those who defaulted came from those schools. Discussions that link earnings to majors sidestep this issue. The founder of Trump University, his Secretary of Education, and the many legislators who receive donations from profiteers who want less regulation are banding together to divert our collective attention away from the real problem and, at the same time, reinforcing the idea that college is about getting a high paying job and not “guiding people toward more enlightened, fulfilling lives.”

And here’s the bottom line: the policies promulgated by our legislators and pundits, assume our lives can only be fulfilled if we make a lot of money… and the more we earn the more we will be fulfilled.

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