According to Monge-Naranjo, constraints on financial aid could have far-reaching economic impacts. When poor but intelligent workers are unable to earn a college degree, their career choices are restricted, Monge-Naranjo said. That could mean less qualified and less productive workers will attain those positions.
"It's a matter of economic efficiency," said Monge-Naranjo. "Are we choosing the best individuals for the job, or just the individual whose parents are wealthy? In the long-term that may have an effect on the economy, although it may take a couple of generations to find out and, even then, perhaps be hard to quantify."
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D - the Republican "Texas Miracle" ignores this creeping long-term cost of slashing funding.
D - if student loans don't cover the actual cost of tuition (and sundry associated costs), then if private credit cannot be accessed, and the job market is not reliable, highly talented poor students will opt out of more expensive school options. Don't get me wrong- a trade apprenticeship or college diploma can be a highly sensible career choice.
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