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New Republic: Trump Banning Student Loans for Majors That Don’t Earn Enough Money

The New Republic is reporting that college majors like social work, art, and music will be hardest hit when President Donald Trump bans students majoring in degrees that will never pay off from taking out college loans.

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There are a couple of pending Community Notes to go along with The New Republic's post:

No one is banned from majoring in what they want but student loans are cut off if graduates make less than someone without a college degree. It's designed to keep colleges from profiting off of low-value programs.

New Republic praised a very similar move by Obama.

Malcolm Ferguson reports:

The Education Department intends to use IRS data to determine students’ salaries four years after they graduate and compare them to those of people similar in age who just have high school diplomas. If they’re below that baseline, that degree will be ineligible for loans. 

“We need social workers,” American Council on Education Ted Mitchell told the Times. “Whether it’s the fentanyl epidemic or homelessness in L.A., we need people who can work on the street with people who need it the most.”

Even some on the right are concerned. 

“The government shouldn’t punish people who pursue socially valuable callings just because in its judgment they don’t earn enough money,” said Gregory Baylor, senior counsel at Alliance Defending Freedom, a Christian nonprofit that the Southern Poverty Law Center lists as a designated hate group.

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Or, we could just get the government out of the student loan business entirely. 

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Make your case to a loan officer at a bank that a $100,000+ loan for a degree in gender studies is a good risk.

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Why is it that no one ever holds universities responsible for charging what they do for tuition and raising it each year? Some have suggested making the universities issue the loans. They're going to want to be paid back.

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