{"id":1745855,"date":"2022-11-20T06:30:47","date_gmt":"2022-11-20T11:30:47","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1745855"},"modified":"2022-11-20T10:19:39","modified_gmt":"2022-11-20T15:19:39","slug":"michael-gibson-the-college-debt-solution-let-kids-go-to-work-instead-of-school","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/michael-gibson-the-college-debt-solution-let-kids-go-to-work-instead-of-school\/","title":{"rendered":"Michael Gibson: The College Debt Solution: Let Kids Go to Work Instead of School"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fmichael-gibson-the-college-debt-solution-let-kids-go-to-work-instead-of-school%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1745855&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>A federal judge in Texas ruled late last week that President Biden\u2019s plan to cancel student debt is <a href=\"https:\/\/www.npr.org\/2022\/11\/11\/1135984026\/texas-judge-strikes-down-biden-administrations-student-loan-forgiveness-plan\" target=\"_blank\" rel=\"noreferrer noopener\">unconstitutional<\/a>.<\/p>\n<p>It was a wise decision. Biden\u2019s boon to borrowers would cost about $400 billion \u2014 a stiff price even in our bloated age of trillion-dollar deficits. <\/p>\n<p>Furthermore, forgiving student debt hides the real villains: the universities. America\u2019s colleges, under the cloak of enriching young minds and imparting skills, run a scheme that would make Sam Bankman-Fried blush. Every year, they lure hundreds of thousands of students into debt servitude so they can get paid billions in taxpayer dollars and then leave students and taxpayers with the tab.<\/p>\n<p>We cannot enact debt cancellation programs every 10 years. Instead, universities should be held accountable for fraudulent advertising.\u00a0<\/p>\n<figure class=\"wp-block-image size-large is-resized\"><a href=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/college-debt.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/11\/college-debt.jpg\" alt=\"Hundreds of thousands of students take on college loans each year, saddling tax-payers with unpaid debt.\" class=\"wp-image-24694942\" width=\"618\" height=\"927\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/college-debt.jpg?quality=75&#038;strip=all&#038;w=1236 1236w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/college-debt.jpg?quality=75&#038;strip=all&#038;w=927 927w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/college-debt.jpg?quality=75&#038;strip=all&#038;w=618 618w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/college-debt.jpg?quality=75&#038;strip=all&#038;w=309 309w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/college-debt.jpg?quality=75&#038;strip=all 1024w\" \/><\/a><figcaption>Hundreds of thousands of students take on college loans each year, saddling tax-payers with unpaid debt. <\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>Higher education is obviously in crisis. There is currently <a href=\"https:\/\/www.cnbc.com\/2022\/05\/06\/this-is-how-student-loan-debt-became-a-1point7-trillion-crisis.html\" target=\"_blank\" rel=\"noreferrer noopener\">$1.7 trillion<\/a> in outstanding student debt. The cost of college has gone up <a href=\"https:\/\/educationdata.org\/average-cost-of-college-by-year\" target=\"_blank\" rel=\"noreferrer noopener\">more than 400 percent<\/a> in real terms since the mid 1970s, and we all know the education students receive is not four times better than it used to be. In the humanities, there is convincing evidence it has gotten worse.\u00a0<\/p>\n<p>About <a href=\"https:\/\/educationdata.org\/college-dropout-rates\" target=\"_blank\" rel=\"noreferrer noopener\">39 million Americans<\/a> are college dropouts. One out of four freshmen drops out by the end of their first year. Only two out of three make it to the end of the program, which for many takes six years. Then there are the baristas with PhDs and the Uber drivers with MFAs. Clearly, college for all is not the surefire ticket to the American Dream.\u00a0<\/p>\n<figure class=\"wp-block-image size-large is-resized\"><a href=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/president-joe-biden.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/11\/president-joe-biden.jpg\" alt=\"Biden campaigned on reforming student debt, but his efforts so far have faced myriad legal hurdles.\" class=\"wp-image-24694951\" width=\"618\" height=\"411\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/president-joe-biden.jpg?quality=75&#038;strip=all&#038;w=1233 1236w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/president-joe-biden.jpg?quality=75&#038;strip=all&#038;w=925 927w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/president-joe-biden.jpg?quality=75&#038;strip=all&#038;w=618 618w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/president-joe-biden.jpg?quality=75&#038;strip=all&#038;w=308 309w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/president-joe-biden.jpg?quality=75&#038;strip=all 1024w\" \/><\/a><figcaption>Biden campaigned on reforming student debt, but his efforts so far have faced myriad legal hurdles.<\/figcaption><figcaption><span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<figure class=\"wp-block-image size-large is-resized\"><a href=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/student-debt-protest.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/11\/student-debt-protest.jpg\" alt=\"The cost of college has risen 400 percent since the mid 1970s, the education students receive is not four times better than it used to be.\" class=\"wp-image-24694927\" width=\"618\" height=\"411\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/student-debt-protest.jpg?quality=75&#038;strip=all&#038;w=1233 1236w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/student-debt-protest.jpg?quality=75&#038;strip=all&#038;w=925 927w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/student-debt-protest.jpg?quality=75&#038;strip=all&#038;w=618 618w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/student-debt-protest.jpg?quality=75&#038;strip=all&#038;w=308 309w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/student-debt-protest.jpg?quality=75&#038;strip=all 1024w\" \/><\/a><figcaption>The cost of college has risen 400 percent since the mid 1970s, the education students receive is not four times better than it used to be. <\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>For these past sins, rather than ask the government to clear the debts, we all might be better served if indebted students formed a class action lawsuit against the universities for fraud. <\/p>\n<p>But that won\u2019t happen. So I have a different, if a more controversial, proposal to help solve this crisis: It\u2019s time to make child labor legal again.\u00a0<\/p>\n<p>The idea of child labor is terrifying to anyone who has seen pictures from a century ago of young children working a loom or wiping the soot off of their faces after a hard day in the coal mine. That\u2019s not what I mean.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/university-michigan.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/11\/university-michigan.jpg\" alt=\"America\u2019s colleges, under the cloak of enriching young minds and imparting skills, run a scheme that would make Sam Bankman-Fried blush.\" class=\"wp-image-24694962\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/university-michigan.jpg?quality=75&#038;strip=all&#038;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/university-michigan.jpg?quality=75&#038;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/university-michigan.jpg?quality=75&#038;strip=all&#038;w=512 512w\" \/><\/a><figcaption>America\u2019s colleges, under the cloak of enriching young minds and imparting skills, run a scheme that would make Sam Bankman-Fried blush.<\/figcaption><figcaption><span class=\"credit\">Getty Images\/iStockphoto<\/span><\/figcaption><\/figure>\n<p>Imagine a magical school that teaches students the skills they need to start their careers. The name of this school is work \u2014 or in more polite circles, an apprenticeship. Even better, students get paid to learn there.\u00a0<\/p>\n<p>There is already a model for this. Consider Switzerland\u2019s <a href=\"https:\/\/www.educationsuisse.ch\/en\/education-switzerland\/swiss-educational-system\/apprenticeship\" target=\"_blank\" rel=\"noreferrer noopener\">national apprenticeship program<\/a>, in which 70% of all teenagers participate. Their typical week is a blend of work, school and mentorship. While they gain experience in banking, retail, the trades or manufacturing, Swiss teens are paid a monthly wage of about $800 to $1,000. Many start fulfilling and rewarding careers without college degrees.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/european-apprentice1.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/11\/european-apprentice1.jpg\" alt=\"European countries such as Switzerland offer formalized apprenticeship programs that teach young people valuable trades while paying them a living wage.\" class=\"wp-image-24694974\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/european-apprentice1.jpg?quality=75&#038;strip=all&#038;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/european-apprentice1.jpg?quality=75&#038;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/european-apprentice1.jpg?quality=75&#038;strip=all&#038;w=512 512w\" \/><\/a><figcaption>European countries such as Switzerland offer formalized apprenticeship programs that teach young people valuable trades while paying them a living wage. <\/figcaption><figcaption><span class=\"credit\">picture alliance via Getty Images<\/span><\/figcaption><\/figure>\n<p>Germany and Austria have similar programs. The upshot is that these countries do not have high dropout levels or classrooms full of children who are pumped full of drugs to get them to behave.\u00a0<\/p>\n<p>In my work as an investor in technology companies, I\u2019ve met many engineers who began their coding career when they were 12 or 13, skirting child labor laws by working remotely under a fake name and a cartoon profile picture. Many went on to scale the heights of their profession without ever needing a degree. <\/p>\n<p>All children should have the opportunity to realize their fullest potential. Part of that requires learning the skills, habits and knowledge to find success in the labor market. Outside of bogus college degrees, the US currently has no system for helping teenagers learn how to work.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/european-apprentice2.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"682\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/11\/european-apprentice2.jpg\" alt=\"For students, apprenticeships are also a much-needed gateway to financial self-sufficiency that doesn&#039;t require a college degree.\" class=\"wp-image-24694985\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/european-apprentice2.jpg?quality=75&#038;strip=all&#038;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/european-apprentice2.jpg?quality=75&#038;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/european-apprentice2.jpg?quality=75&#038;strip=all&#038;w=512 512w\" \/><\/a><figcaption>For students, apprenticeships are also a much-needed gateway to financial self-sufficiency that doesn\u2019t require a college degree. <\/figcaption><figcaption><span class=\"credit\">AFP via Getty Images<\/span><\/figcaption><\/figure>\n<p>In a statement about the Texas court ruling against debt cancellation, Education Secretary Miguel Cardona said, \u201cWe remain committed to taking other actions to fix long-standing issues in the student loan forgiveness system and hold schools accountable for leaving students with mountains of debt and without the skills and preparation to find good jobs.\u201d\u00a0<\/p>\n<p>But the Biden administration has put the cart before the horse. Debt cancellation allows the powerful to keep exploiting the weak and does not serve the nation as a whole.\u00a0<\/p>\n<p>Monotonous pointless schooling is the prison of our youth. It\u2019s time teens stopped paying for useless tuition and, instead, got paid by those who can truly help them find the path to success. <\/p>\n<p><em>Michael Gibson is cofounder of the 1517 Fund, which mainly invests in people without college degrees. He is the author of \u201c<a href=\"https:\/\/www.amazon.com\/Paper-Belt-Fire-Fight-Progress\/dp\/164177245X\/?tag=nypost-20&#038;asc_refurl=https:\/\/nypost.com\/2022\/11\/19\/the-college-debt-solution-let-kids-go-to-work-instead-of-school\/&#038;asc_source=web\" target=\"_blank\" rel=\"nofollow noreferrer noopener\">Paper Belt on Fire: How Renegade Investors Sparked a Revolt Against the University<\/a>.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A federal judge in Texas ruled late last week that President Biden\u2019s plan to cancel student debt is unconstitutional. It was a wise decision. Biden\u2019s boon to borrowers<\/p>\n","protected":false},"author":1,"featured_media":1745858,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1745855","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1745855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1745855"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1745855\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1745858"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1745855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1745855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1745855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}