Fox Business panel reacts to WSJ article on student debt by attacking higher education and students
Dagen McDowell: "Ultimately, this also comes down to personal responsibility"
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From the January 17 edition of Fox Business' Mornings with Maria Bartiromo:
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JAMES FREEMAN (THE WALL STREET JOURNAL): I think part of the answer has got to be the government reducing the amount of grant and loan money it hands out. Now, people are going to see this as really rough for people trying to afford college, but it's the opposite because, if you take away all that money, the prices have to come down. So, the way to make college more affordable is to stop inflating the prices with government aid.
DAGEN MCDOWELL (FOX BUSINESS HOST): Ultimately, this also comes down to personal responsibility. The responsibility of the student going into college and the parents to do a cost-benefit analysis of what do you think you want to do when you get out of college, and where you want to work. Because, if you want to live in a smaller town, in a smaller community, more rural area, and not have to go out and try and get a six-figure paycheck a few years after graduating from college, then you need to go to a very low-cost school or figure out a way to pay for that, and that's just something that's lost.
MATTIE DUPPLER (NATIONAL TAXPAYERS UNION): I think the value proposition of -- yeah, the value proposition of college is something we need to consider. For too long, academics and the elite have said college is the only way to prosperity for Americans, and I simply reject that as the only way to be successful in the United States.
MARIA BARTIROMO (HOST): And there's proof of it. How many billionaires have been dropping out of college?
BARTIROMO: If you were starting over, would you not go to college?
LAUREN SIMONETTI (FOX BUSINESS CORRESPONDENT): I'd absolutely go.
BARTIROMO: Me too.
SIMONETTI: And I would stay longer than I did --
MCDOWELL: It's not, do you go or not. It's, do you go to a public university that's cheap, or do you pay literally a quarter of a million dollars or more for a degree in identity politics?
BARTIROMO: Fair point. Fair point. OK.
MCDOWELL: And then you get out and you can't get a job anywhere.
SIMONETTI: That's the issue.
MCDOWELL: I majored in art history, which, everybody on social media always mocks me about. But, you know what? I didn't pay that much to go to college. Wake Forest [University] was about $7,500 a year when I went to school there, when I started there.
BARTIROMO: That's a good point.
FREEMAN: Yeah, it's gone up a little since then --
MCDOWELL: So, again, I could make a dumb decision because it didn't cost that much money.