How To Fix Credentialism and The Student Debt Crisis with Todd Zywicki
May 18, 2021•25 min
Episode description
Todd Zywicki (@ToddZywicki), law professor and author of Unprofitable Schooling: Examining Causes of, and Fixes for, America’s Broken Ivory Tower, joins Erik on this episode to discuss:
- The fact that 65% of funding increases to colleges gets passed through to students.
- How the accreditation system got its start after the GI Bill incentivized diploma mills.
- Why student loan defaults are inversely correlated to the amount of debt a student has taken on.
- Why proposals from both sides of the political aisle to address student debt have serious drawbacks, and why Todd would propose a one-time payment to all individuals instead.
- Why ISAs work for a subset of people but won't fix the overall problem, which is that a lot of people are going to college who shouldn't be.
- Todd's hope that eventually the labor market and skills-based certification will replace the current "credentialism arms race."
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- The fact that 65% of funding increases to colleges gets passed through to students.
- How the accreditation system got its start after the GI Bill incentivized diploma mills.
- Why student loan defaults are inversely correlated to the amount of debt a student has taken on.
- Why proposals from both sides of the political aisle to address student debt have serious drawbacks, and why Todd would propose a one-time payment to all individuals instead.
- Why ISAs work for a subset of people but won't fix the overall problem, which is that a lot of people are going to college who shouldn't be.
- Todd's hope that eventually the labor market and skills-based certification will replace the current "credentialism arms race."
Thanks for listening — if you like what you hear, please review us on your favorite podcast platform.
Check us out on the web at www.villageglobal.vc or get in touch with us on Twitter @villageglobal.
Want to get updates from us? Subscribe to get a peek inside the Village. We’ll send you reading recommendations, exclusive event invites, and commentary on the latest happenings in Silicon Valley. www.villageglobal.vc/signup