Mike Rowe: Kids Can’t Pay College Loans

Posted by admin on Monday, May 2, 2016

Mike Rowe Money Quote saying student loans are paying for education of kids who can’t find work to pay back loans. Mike Rowe said:
 

 

“We’re lending money we don’t have to kids who can’t pay it back to train them for jobs that no longer exist. That’s nuts” — Mike Rowe

 

 

In this quote, Mike Rowe is sharply criticizing the current system of student loans in the United States. He argues that it is financially unsustainable and misguided to lend large sums of money that we don’t actually have in funds to students who often lack clear pathways to repay those loans.

Rowe also believes many students are accumulating debt to pursue degrees that may not lead to real jobs, given changes in the labor market. His view is that lending enormous amounts on the assumption that any college degree automatically equals career success is a flawed approach that will inevitably lead to problems (“That’s nuts”).

Overall, Rowe appears to be calling the sustainability and efficacy of the student loan system into question, suggesting it sets up both students and taxpayers for potential hardship without adequate job opportunities or return on investment.