[dragonwriter]

> The purpose of a college degree is NOT a job... but the purpose of a college LOAN is 100% a job, and it's very important to differentiate between the two.

No, the purpose of a college loan is to enable a student to pay for college with future earnings. It can be perfectly rational even if the loan/degree doesn't improve job prospects (and even more especially so if it doesn’t “improve” them in a purely financial sense that ignores the borrower’s actual utility function.)

The purpose of this test (like the special accounting rules imposed on the postal service) is not to better fulfill the purpose of a college degree or the purpose of a college loan. The purpose of the test is to increase the administrative compliance cost of participating in the college loan program as a means of stifling the program. Like the special accounting rules imposed on the Postal Service, its how you use the political power you have to chip away at a public program that you feel is too popular to abolish directly.

> You have the right to a degree in XYZ... you should NOT have the right to a taxpayer backed grant/aid/loan/whatever to gain said degree unless you're on a reasonable path to become a tax payer yourself as soon as you are done with the degree.

You have an inherent right to neither, but while any public policy must observe rights, it need not be limited to them.

[scoofy]

This is a fine thesis, but under this thesis student loans should be discharged under bankruptcy just like any other liability.

The previous poster is arguing that the underlying rules that block student loans being discharged under bankruptcy, generally speaking, mean that the loan is about a job, and not just about borrowing for education.

[atomicthumbs]

yes, they should

[someguydave]

But also the taxpayers and dollar holders have a right to ask for good management of their taxes and savings

[foco_tubi]

Individually-scoped education is objectively a good national investment

[nradov]

Can we quantify that? Does it apply equally to every college and major?

[foco_tubi]

Yes, of course you can. On average, higher education tends to produce positive national returns. This has been studied over and over and over. The selection of major and college is largely irrelevant. Even though individual returns vary significantly by major, institution, completion rate, and labor-market conditions, the average measured return to higher education is positive enough that most competent economists view it as a productive public investment.

[ryzvonusef]

> No, the purpose of a college loan is to enable a student to pay for college with future earnings.

Aren't you and I saying essentially the same thing? If you are taking a loan, there better be a job that helps pay for it.