Americans are sitting on over $1.5 trillion in student debt and the Trump regime's big idea for tackling the problem is for colleges to provide mandatory classes in how to handle your personal finances.
And if that weren't insulting enough, it may be even more insulting coming from the current occupants of the White House.
Colleges should provide lessons in mandatory financial literacy courses and financial-aid letters that itemize attendance costs, according to a new report from a federal government commission.
The Financial Literacy and Education Commission — a group including the Treasury Department and the Department of Education — said such best practices are especially important now that Americans have become bogged down in $1.5 trillion in student-loan debt.
“Helping students and their families avoid the pitfalls associated with financing higher education, and empowering them to make optimal financial choices, should be a priority of all institutions of higher education,” said the report released Friday. Excessive debts can stunt budding careers and possibly cut into future savings, the commission said.
You know who really needs a financial literacy class? At least half of Congress, a majority of those who occupy the executive branch, and the goddamn *president himself. Trump doesn't even know the meaning of words.
For the overwhelming majority of Americans, there is no way to "avoid the pitfalls" of taking out loans for higher education and it's difficult to make an "optimal financial choice" when there is almost no choice.
Higher education is simply way too expensive and college education has proliferated so much that simply having a degree is no guarantee that you'll land a job that pays well enough to cover the cost of obtaining the degree in the first place.
Wages have stagnated for decades but the cost of living and obtaining higher education has skyrocketed. The result is our student debt crisis.
Mandating financial literacy classes is not going to raise anyone's salary.