Responding to Uninformed Critics

Daniel Luzer has a post up on the liberal Washington Monthly College Guide blog that indicates his support for the gainful employment 8% debt cap proposal on career colleges. I responded with information that will be useful to readers:

The gainful employment 8% cap is a terribly flawed proposal. Financial aid expert Mark Kantrowitz put out a policy paper arguing that it is unrealistic and way too strict and that even traditional and professional schools (if subject to the same rule) would have a hard time complying with it.

I did an analysis on what the max debt that could be borrowed for 10 occupations that are expected to be among those with the greatest employment growth in the next 10 years, and coincidentally the career colleges train people in. For comparison, I computed the max debt that a law student could borrow...$44k (and that includes any undergraduate debt).