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Comment Re:Does this mean Sam Altman's going to prison? (Score 2) 14

Was this written by AI? What tripe. Heart surgeons? Structural engineers? You sound like a cliche machine. Please, find me an example of this fantasy. Spend the tokens, bitch. Academic honesty is a largely an individual decision. If you catch students, fail them. Strip their degrees in more extreme cases. But sending this guy to jail as a scammer? Laughable. He gave people what they paid for. And you totally misunderstand the post. This guy is nothing compared to what happens daily on ChatGPT and the like. I support locking up Altman. Do you?

Comment Re: Cool Cool (Score 1) 79

What needs to be done is make these dischargeable debt.

We tried that, graduates would declare bankruptcy, get the student debt discharged, and just have to wait 7 years or whatever to take out a loan to buy a house.

This will make lending focused on degree payback and the college graduation rate.

How do you figure? Right now student loans are all but guaranteed for all that apply, and we have tremendous delinquency rates despite the debt not being discharge able. If you make student debt discharge able, what's the incentive to pay it back? Maybe you meant to add "and put student debt back in the hands of private lenders, who will bear the cost of that discharged debt, so they will be very selective about giving bad credit risk students tens of thousands of dollars for their degree"? Is that what you meant?

Comment Re: Cool Cool (Score 1) 79

Many other countries besides the USA have lower tuitions and lower per-student debts. Why? Government support for education.

So let's start with your last item first - do you imagine the U.S. Government, and state governments, DON'T support education? How much money does each state pour into state and community colleges? Acvording to you, nothing.

You know what the difference is between all those "free colleges" in Europe and elsewhere and US Colleges? The vast majority of foreign "free" colleges are run by the gov't, enrollment is limited, and students get in based on merit. In America, the vast majority of colleges are privet, "non-profit" institutions, and they admit almost anyone willing to pay the tuition they charge, usually with money they hope to earn after they graduate.

If you want to compare apples to apples, let's compare "free" European colleges and state colleges, let's not compare them to private colleges.

In America, any student can buy their way into college with borrowed money, and somehow that's unfair. Fine, let's stop government secured student loans and make all state colleges 'free, but merit-based', let's stop offering remedial math and reading classes... let's be just like Europe, and anyone that can't earn a spot at a free state college is free to find the money privately to attend the local 'non-profit' schools. Is that really what you want?

Comment Re: Cool Cool (Score 1) 79

Have you forgotten that countless borrowers (former students) either simply don't make payments or, as we've discussed here frequently, will chose to simply move out of the country, in order to avoid paying for the education they wanted?

PS - there are NO HARD ASSETS securing student loans, which can be described as giving loans of tens of thousands of dollar/year for years, to someone who's never held a job/drawn a paycheck or even made a loan payment before getting approved.

Comment Re: Sojust like every other tech growth story (Score 1) 219

Tesla took 17 years to reach profitablity. They all got significant state support to the tune of many billions

Are we calling $7,500 tax incentives for the buyer 'subsidies'?

I'm not saying that's wrong, but that's a different kind of subsidy than the ones a company like BYD gets from the Chinese gov't... (Tesla sold the cars at a higher price, the buyer got the subsidy, in BYD the cars are sold at a lower price and the gov't just gives them money.)

As a reminder, it was "climate conscious" politicians, largely in one party, that used the gov't checkbook to prop up certain companies in industries they liked, all with great big press conferences and running for re-election on those generous handouts to 'green industries'.

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