PG's stance, at least nowadays, is not to take college students unless they are going to leave anyway. I dont think he would do it in the way that PT is trying to do it.
My understanding, having been sucked into that trap myself, is that college debt forces people to go to hedge funds or other lucrative jobs that don't utilize the full potential of some of the brightest college students. If you can give students an opportunity to build something, unencumbered by the issue of money, the outcome would be far better for society.
college debt forces people to go to hedge funds or other lucrative jobs that don't utilize the full potential of some of the brightest college students
Well if that's the only concern, then Thiel could do what rich people have been doing for years -- donating scholarships to give smart kids a free ride to college.
Wouldn't that actually be giving free rides to colleges? They are free to charge whatever they want because it's the scholorship that pays for it anyway. Like insurance...
The scholarship process is also broken. With many of the "merit-based" scholarships, there is a bias favoring those coming from low income families (otherwise why would they ask for parents' income information?)
This is the middle-class trap. In reality, kids from middle-class families are squeezed, because they are ineligible for most financial aid / scholarships and dont have enough money to go to college on their own.
My understanding, having been sucked into that trap myself, is that college debt forces people to go to hedge funds or other lucrative jobs that don't utilize the full potential of some of the brightest college students. If you can give students an opportunity to build something, unencumbered by the issue of money, the outcome would be far better for society.