Mitchell, Josh. “The Long Road to the Student Debt Crisis” The Wall Street Journal, June 7, 2019.
Questions:
Address the two interpretations of the returns to education and link to examples, if any, from the article that connect to the model(s).
What is the evidence provided in the essay that the federal government’s system of financing higher education is broken?
What are the perverse incentives created by the current systems of funding university attendance?
What are income share arrangements? Would ISAs encourage investors (e.g., banks) be interested in the students they support and the decisions they make?
Does the current financing system encourage investors (i.e., government officials who represent taxpayers) to invest wisely? Should attendance of institutions of higher education be funded by income share arrangements?
Consider the statement: “In February, I asked Rivlin what she thought about the system she helped to create 50 years ago. Her response: ‘We unleashed a monster.'” (WSJ, 2019)
Describe the monster. What policies of the 1960s unleashed the monster?
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