This is a textbook case of government programs run amok.
People with zero personal risk (political appointees feeding at the trough) at stake investing dollars into things that have no business being part of an institutional investment portfolio (SouthShore Bank? Really?).
The private sector is “private” for a reason — the government needs to stay out of it and stop pretending that they can play with the big players.
Stick to the mandate of providing basic services and keeping those costs at sustainable levels. Ironically, these are all things that Illinois government completely fails at.
steve-oh
7 years ago
It amazes me when the “do-gooders” in various govt entities create new programs that involve getting their grimy little fingers involved in financial arrangements, and disrupt the efficient decisions of individuals. The whole idea of govt funded or largely-assisted funding for colleges, just makes zero sense. And then giving loans……..has allowed schools to jack up their “prices”.
This is a concept that could work. In Virginia, where I live, the pre=pay programs are a viable way to pay for in-state colleges, where, in contrast to Illinois, the overall quality of education is high and tuition is low (I have a (ahem) theory that states without public sector unions offer much better values and can control costs far more effectively than states like Illinois). I viewed the plan as a life insurance policy because if anything happened to me, well, the kids would be able to go to UVa, Tech, etc., with tuition already paid for. (One could… Read more »
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
This is a textbook case of government programs run amok.
People with zero personal risk (political appointees feeding at the trough) at stake investing dollars into things that have no business being part of an institutional investment portfolio (SouthShore Bank? Really?).
The private sector is “private” for a reason — the government needs to stay out of it and stop pretending that they can play with the big players.
Stick to the mandate of providing basic services and keeping those costs at sustainable levels. Ironically, these are all things that Illinois government completely fails at.
It amazes me when the “do-gooders” in various govt entities create new programs that involve getting their grimy little fingers involved in financial arrangements, and disrupt the efficient decisions of individuals. The whole idea of govt funded or largely-assisted funding for colleges, just makes zero sense. And then giving loans……..has allowed schools to jack up their “prices”.
This is a concept that could work. In Virginia, where I live, the pre=pay programs are a viable way to pay for in-state colleges, where, in contrast to Illinois, the overall quality of education is high and tuition is low (I have a (ahem) theory that states without public sector unions offer much better values and can control costs far more effectively than states like Illinois). I viewed the plan as a life insurance policy because if anything happened to me, well, the kids would be able to go to UVa, Tech, etc., with tuition already paid for. (One could… Read more »