One of the hot button issues in the 2016 election will be education and student loan debt……everyone will have an idea and all will fall short of preparing the student to function in the 21st century world…..

GOP presidential candidate hopeful Marco Rubio has a big idea for getting a college education……

In the speech, Rubio also called for a “revolutionized” higher education system. If elected president, he promised to “bust…the cartel of existing colleges and universities” by loosening the rules for accreditation so that “innovative, low-cost competitors” can court students. But critics say the government accreditation process is already far too loose, allowing predatory for-profit chains like Corinthian Colleges to win federal approval and funding even as they mislead students into paying for essentially worthless degrees.

He expanded on this idea in a speech last year:

Let’s say you are a student who needs $10,000 to pay for your last year of school. Instead of taking this money out in the form of a loan, you could apply for a “Student Investment Plan” from an approved and certified private investment group. In short, these investors would pay your $10,000 tuition in return for a percentage of your income for a set period of time after graduation – let’s say, for example, 4% a year for 10 years.

This group would look at factors such as your major, the institution you’re attending, your record in school – and use this to make a determination about the likelihood of you finding a good job and paying them back.

Unlike with loans, you would be under no legal obligation to pay back that entire $10,000. Your only obligation would be to pay that 4% of your income per year for 10 years, regardless of whether that ends up amounting to more or less than $10,000.

But these “Student Investment Plans,” which also have the Orwellian name “human capital contracts,” raise many serious concerns. For one, investors may refuse to cover entire fields of students not likely to bring in the big bucks after graduation, or would charge them a staggeringly high percentage of their income. For those backing this plan, such as the conservative think tank American Enterprise Institute (AEI), this poses no problem.

I agree that education ans student debt is a growing problem…..but I do not see the advantage to Rubio’s proposal……..

Sorry people but his idea sounds a lot like a form of slavery……..kinda like debt labor………Describes slavery in which an individual is compelled to work in order to repay a debt. It differs from other forms in that, often times the laborer and the employer initially enter into a mutual agreement. However, contract conditions may be illegal and/or vastly more beneficial to the employer than the laborer. These workers become slaves when they continue working, but cannot pay off their initial debt because of exploitative contract terms and, thus, cannot leave.

Sorry, Mr. Rubio but your proposal smells like slavery……..