It’s that time of year again.
Politicians are on your TV screen and in your mailbox inundating with you promises they don’t intend to keep. While, under the influence of their misplaced faith in magical words, the kids head back to college to accrue debt they’ll finance into their 40's.
Comrade Bernie & The Socialists have re-released their Siren song of tuition-free college.
They’ll make college debt disappear much like Bernie’s dutiful wife Jane made an entire college disappear.
Of course, that debt will reappear in the form of increased government taking from you to finance schools your children didn’t attend and pensions you won’t receive.
The Socialists are offering a free lunch with you on the menu.
Make your own lunch.
Not only should you send your kid to a school that promotes free markets, you should apply the fundamental tenet to the financing: work.
One way is through income-share agreements like Purdue University’s “Back a Boiler” program, where a student’s education is paid for up front and paid back through an agreed upon percentage of his post-graduate income over a defined term.
This aligns the interests and the responsibilities of both the student and university: both want the students to get good-paying jobs at companies or in sectors with upward mobility.
Let’s make financing a college education a teachable moment for the students and the politicians.