In the youtube video "Government to blame for America's mounting student loan debt?" they discuss the effects of government intervention in college loans. They say that during their interview the total student loan debt will go up $1.1 million. They also explain that universities have no incentives to lower their prices as the government will give the money to students. They also bring up that since 1900 the price of college education has gone up 190% while in that same time frame computers and TVs have gone down 80% because one is considered a right and the other a commodity. He explains that when the government says that something is a right it raises the price. They come to the…
This video goes over the current situation regarding the increasing cost of student loans and the debt that occurs because of it. At the time of this video's release the national student loan debt was about $1.5 Trillion, while currently, it is equal to roughly $1.74 trillion. Cabot Phillips, a writer for The Daily Wire, makes the claim that it is the government's fault. His reasoning for this is that the government has not put any limitations on colleges to keep their prices affordable for the newer generations of students. Essentially, forcing anyone that cannot pay their tuition in full to take out crippling loans. It has gotten so bad that Phillips makes the claim, "...since 1990, the price of…
For my TeachEcoKnowmicsBlog Comment #3 I Chose to right about "The Government & America's Student loan Debt". I found it very interesting that he said that even though the government keeps raising the prices of student loans, they try to say that it is a 'right' that the people have. I think it is very predatory the way that the government takes advantage of citizens that want to learn and accelerate their future. Free market solutions would be the most ideal for our economy because the higher student loan debt becomes, the less likely people are willing to work hard for a higher paying job. It is also crazy that the government has racked up $1.5 trillion of student loan…
For my TeachEconomicsBlog Comment #5, I watched the video “Government to blame for America's mounting student loan debt?” by Fox News. In the video, Cabot Phillips explains that student loan debt has reached $1.5 trillion. He also explains that it is the governments’ fault because they are subsidizing high risk loans, this gives colleges no incentive to keep their prices down because they can just keep making college tuition higher since they know that the government is going to give these loans out to students who want to study. Due to this, young adults are starting to have kids later in life and are not really purchasing homes which shows how much student loan debt has had an effect on…
For my fourth TeachEcoKnowmics blog post, I decided to watch and comment on "The Government and America's Student Debt" by the Fox Business Network. In this video, Cabot Phillips discusses how student loan debt has reached a staggering $1.5 trillion. While I did not have much experience with this topic before watching the video, I believe that Phillips is not in the wrong here. He talks about how the government is subsidizing and even incentivizing colleges to raise prices, thanks to the loan system. Because the government continues to incentivize colleges to increase their prices, the fact of the matter remains that students are the ones who have to face the consequences. For instance, Cabot mentions that since 1990, the…
In the youtube video "Government to blame for America's mounting student loan debt?" they discuss the effects of government intervention in college loans. They say that during their interview the total student loan debt will go up $1.1 million. They also explain that universities have no incentives to lower their prices as the government will give the money to students. They also bring up that since 1900 the price of college education has gone up 190% while in that same time frame computers and TVs have gone down 80% because one is considered a right and the other a commodity. He explains that when the government says that something is a right it raises the price. They come to the…
This video goes over the current situation regarding the increasing cost of student loans and the debt that occurs because of it. At the time of this video's release the national student loan debt was about $1.5 Trillion, while currently, it is equal to roughly $1.74 trillion. Cabot Phillips, a writer for The Daily Wire, makes the claim that it is the government's fault. His reasoning for this is that the government has not put any limitations on colleges to keep their prices affordable for the newer generations of students. Essentially, forcing anyone that cannot pay their tuition in full to take out crippling loans. It has gotten so bad that Phillips makes the claim, "...since 1990, the price of…
For my TeachEcoKnowmicsBlog Comment #3 I Chose to right about "The Government & America's Student loan Debt". I found it very interesting that he said that even though the government keeps raising the prices of student loans, they try to say that it is a 'right' that the people have. I think it is very predatory the way that the government takes advantage of citizens that want to learn and accelerate their future. Free market solutions would be the most ideal for our economy because the higher student loan debt becomes, the less likely people are willing to work hard for a higher paying job. It is also crazy that the government has racked up $1.5 trillion of student loan…
For my TeachEconomicsBlog Comment #5, I watched the video “Government to blame for America's mounting student loan debt?” by Fox News. In the video, Cabot Phillips explains that student loan debt has reached $1.5 trillion. He also explains that it is the governments’ fault because they are subsidizing high risk loans, this gives colleges no incentive to keep their prices down because they can just keep making college tuition higher since they know that the government is going to give these loans out to students who want to study. Due to this, young adults are starting to have kids later in life and are not really purchasing homes which shows how much student loan debt has had an effect on…
For my fourth TeachEcoKnowmics blog post, I decided to watch and comment on "The Government and America's Student Debt" by the Fox Business Network. In this video, Cabot Phillips discusses how student loan debt has reached a staggering $1.5 trillion. While I did not have much experience with this topic before watching the video, I believe that Phillips is not in the wrong here. He talks about how the government is subsidizing and even incentivizing colleges to raise prices, thanks to the loan system. Because the government continues to incentivize colleges to increase their prices, the fact of the matter remains that students are the ones who have to face the consequences. For instance, Cabot mentions that since 1990, the…