President Biden wants to cancel student debt! This means that every American’s college loans are about to be wiped out, right?

President Biden wants to cancel student debt! This means that every American’s college loans are about to be wiped out, right?

Well, not so fast. After all, we are talking about a $ 1.7 trillion tongue. But Biden has a plan that will help undo some of the damage. Specifically, he wants to write off $ 10,000 in student debt, per borrower. This could wipe out loans for some 16 million people, or more than a third of current borrowers.

Now here’s what everyone is wrong: the question is not who is going to pay for all of this? This one is easy. Every American taxpayer. The most important question is:

Why are we even talking about canceling student loans in the first place?

No one is looking to write off mortgages. You don’t hear the mainstream media talking about auto loan cancellation. If millions of students are to be ‘bailed out’, maybe college isn’t a good investment after all.

Of course, some professions require a university degree. If you want to be a doctor, going to school is a must. But the vast majority of adolescents are not trained to be surgeons. Hundreds of thousands of American children register for business degrees every college semester. Yet there is no skill called “business”.

The four-year-old diploma overwhelms the children with mountains of debt. And a lot of those kids don’t even end up using it! In fact, according to the Federal Reserve Bank of New York, 41% of new graduates are in jobs that don’t require a degree. I stopped believing in the magic of college when the free YouTube lectures I watched were better than the ones I paid thousands of dollars for.

College was disrupted long before Uncle Sam walked in

Teenagers have come to the idea that most degrees aren’t worth much. Now they are turning their backs on the university. Did you know university enrollment peaked in 2010? In fact, freshman registrations fell 16% last fall. And last year, tuition fees increased at their slowest pace in over 30 years.

Here’s the problem: The best schools like Harvard and Yale will always attract elite kids and command huge tuition fees. But the thousands of schools that sell “standard” degrees are a dying breed. I predict that at least half of America’s 4,000 intermediate colleges will go bankrupt within the next decade.

You can already see this play out. In the past year, universities have cut over 300,000 jobs. And many of these schools are cutting tuition fees in an attempt to attract students.

Rider University cuts tuition fees for new students by 22%. Fairleigh Dickinson University has announced that it will cut tuition fees for all new students by 25%. And Southern New Hampshire University is offering a free year to freshmen on campus this fall.

In 2019, the rating agency Moody’s found that about a third of US colleges “were already running deficits.” The recent drop in registrations is likely to be a tidal wave that will crush many of them.

You might be wondering, “If I don’t go to college, what should I do?” “

Critics of the College have never been able to answer this question, until now. Professionals like mechanics and chefs do not usually earn degrees. Instead, they learn through apprenticeship, a few years of on-the-job training.

“Professional training” for engineers or coders has never existed. Google is changing that. Google Career Certificates is a series of courses that help students gain qualifications in high paying jobs without attending college.

For example, Google will train you to become a data analyst. A job with a median annual salary of $ 66,000. You can also learn all the skills needed to become a User Experience (UX) designer. These people are paid over $ 80,000 a year.

And here’s the kicker: These courses take about six months and cost just a few hundred dollars. Better yet, Google will “treat our new career certificates as the equivalent of a four-year degree.”

In other words, you don’t have to go into debt to get a job at Google. Now you can “qualify” for a well-paying job in less than a year! Several of the biggest American companies like Walmart, Intel, Sprint and Bank of America have also joined the group. They recognize a Google Career Certificate as a college degree.

Mark my words: this is the future of education

Big, successful brands like Google will disrupt the four-year degree by offering their own certification. Think about why people pay so much for college: it’s the piece of paper.

But Google is a household name. Its certificates are recognized around the world. In fact, they are worth more than a degree from a middle college. I guarantee you that Google is only the first of many large companies to launch their own certification programs. Nothing prevents Disney, for example, from launching an educational product for children in Kindergarten to Grade 12.

Here’s how you can take advantage of the college disruption

In 2019, I spoke to my readers about Coursera. It is a website where students can register for courses from several of the best colleges in the world like Stanford, Duke, and Penn. Coursera also hosts Google Career Certificates.

It’s basically a gateway for disruptors who help students learn valuable skills so they can skip college. Coursera is expected to go public this year. My colleague and RiskHedge IPO expert Justin Spittler told subscribers last year: “When it is made public, Coursera could easily become the best bet on disrupting education.”

I will be watching Coursera closely as well.

Receive my report “The big disruptors: 3 revolutionary actions ready to double your money”. These actions will earn you 100% gains as they disrupt entire industries. Get your free copy here.

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