[lbo-talk] Student Loans, Fishing, and Marx

kevin island kevin_island2003 at yahoo.com
Mon Jul 31 13:03:04 PDT 2006


I've noticed several student loan articles of late. (No doubt such articles are becoming more common because of the rise in college costs and the shrinking availability of aid. But I suspect I notice them for personal reasons ...)

Here's one that was posted on AlterNet:

http://www.alternet.org/wiretap/39278/

There's been a lot of talk lately about increasing levels of student debt. With all of the fuss, you'd expect that lucky high school seniors receive a sobering invoice with their college acceptance letters. But for many students, the plunge into debt is much more insidious. Like drug dealers, the lenders start small and cheap, lulling students into a false sense of security. By the time the full effects of debt creep in, it's too late.

I hope that my experience will shed light on similar stories unfolding across America, illuminating the impossible choices that meet working-class students. It's also a cautionary tale for countries seduced by the false promises of private college education financed by student loans and credit cards.

At my working-class high school in Connecticut, I was always a top student. The overwhelming message for high achievers was that brains, determination, and charisma would lead to success in any career, and I dutifully pursued volunteer work, leadership training, part-time jobs, and anything else that would 'look good on the resume.'

...

*********

I was disappointed by the comments at the bottom of the article. So many vicious remarks. Mostly of two kinds:

1. The writer is stupid. (I was smart. I majored in marketable subject like mechanical engineering.)

2. The writer is whiney and childish. (I'm a grown up. I never borrow for useless frills, and I embrace the dignity of menial toil.)

The author suggests the profit motive encourages schools to exploit students. One technique: Creating a web of courses with unique-sounding titles, which makes tranferring credits to other schools very difficult. Another: Needlessly watering down content at the undergrad level, ensuring that graduate-level work (and additional tuition, etc.) will be required.

Reminds me of a quote attributed to Marx:

Catch a man a fish, and you can sell it to him. Teach a man to fish, and you ruin a wonderful business opportunity.

Seems institutions of higher learning have chosen an intermediate position. Teach a man to fish, but do it very, very slowly, while making sure he keeps paying for the lessons ...

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