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Think Tank 1210pm

Oct 18, 2016|

This hours guest: Should voters or legislators control tuition costs in Louisiana? You’ll make that choice at the ballot box soon. If schools control tuition will many be too poor to attend? Dr. Jose Bautista - Economics Professor in the Division of Business-Xavier University John Nicklow - UNO's president

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Automatically Generated Transcript (may not be 100% accurate)

We're doing the show old because. You're gonna have a chance in November. To decide where there are these legislature will continued to set tuition rates for museums universities. Colleges. Or will you love birds it is said doron viewed the tuition rates. But in the end breathing for this so I decided to do. First half hour. On a big goal L opened that suits your lives debate as to regardless. Who paid to who decides who pays it to which. There was a lady. Named Sheila Bair shoes that you are cheap and in 2006. She began to war in the country of war and the congress warned the banks. The because exited the housing mortgages in the way they were running. We were getting Brenda openness to call outs and nobody paid any intention to work. Well Babylon took issue Baird called the financial crisis. Hears her new nightmare. What the library it is one point board trillion. Dollars with the T. A student of in this country 43. Million students. With that that many of them can pay. Second largest sorts of household. After home mortgages the federal government owned back. More than 90% of those loans. More than forty twos at 42%. Of federally owned student loans are not being repaid. Or expected to be paid on time. And ms. Bair who didn't predict that the financial crisis says there lists. Is bigger than housing crisis. And to bring the economy down and again. Well whenever a drug numbers and economics at turned the Doctor Who do you know Jose Batista. Economics professor division of business Xavier university professors always thank you but the time. Thank you thank you for social what do you think is this that big that it could threaten it's even more than the housing collapse. Well. Yes. To make a long story short we definitely hope not. But. The the problem is the of them mismatch or the misperception. That. You know goes down we know parents several generations that you know the idea that you have to get a college degree. And they're being punitive to street big job market is rapidly changing media. The other Federal Reserve has dozens you know circles biodiesel and the rapidly changing. Job market and there are a lot of skill sets that are not. Being addressed. And as a result he you have people who where you're going to college. Getting accepted to college taking out loans cool and you know really are in college material but nevertheless they're they're carrying these loans and then what happened afterward. After four years. They graduate they have been agree they don't have via. The the appropriate skill sets for the jobs available and that they have to take on this. This debt where. The other night generate income to pay it back. And a broadening its interim report land like Sid and millions of these. Avoiding medical treatment delaying marriage. Not even considering home buying or core buying new. And some of them having trouble buying daily necessities. Such as groceries. Even for the people's lives and that say hey it's certain debt we don't period bag they're going to be a back. You you can write all one toward fort trillion dollars in. No and you know it it it really starts to jail but the point you mentioned to me it's actually been to five. Lifestyles. New graduates. It's it's an incident it's it's an awfully difficult decision for you know for people to have to confront. You know what the you know let's see Alter all the alternatives. You know the the dreaded foot of parents of having pared their children and you know state would admirable back. And still continued to be under the support of you know they have the media. I wanted to the past generation but again the you know there and their parents. You know is that is that something that's. Did have it's bad for the economy well you know it. It's it doesn't show you know it doesn't demonstrate progress in me you know and approved in an economy disposed to be progressive looking. There are others who you know quarter cultural basis say well no we would be. We will we come from a culture that dubbed the nuclear trampoline where here where I mean we've we've never really moved away from. You know from there from where for my ancestors are from our heritage. You know but it but economic problems differently if that does single way. Our little it would take breaker you know Joe's your windows. We're we're talking about one point four trillion dollar debt. In student loans in this country. Much of it which kid and will not be paid back in the even if you're in that group that says. Well aware of them they've been made the loans are just couldn't serve with the consequences. That would tell us. We're among its concern but the consequences. We've got some pretty knowledgeable. Economists. Saying of this thing isn't the mix we're gonna have another. 2000 they'd collapse but it's going to be bigger. When we come back woods I think it leads about a couple of possible answers dub it a B. Finger above one board for true ruin him with the keys student debt and loan problem in this country. Number of top economists have said Dick if something isn't done it and yours or found. A huge percentage of these kids can't pay the loans back can't get the job Macon Dublin to pay that money back. So get a general operation not buying goods not buying homes not buying cards which hurts the economy even more. And so on that topic can't lose that she did something isn't done. This is 2008 all over again only you worse another financial clout. Doctor hodes a broad trees of with the economics professor. At Xavier university and our doctor. Unfortunately Hillary Clinton's plan. Or better only is making it 5000 dollars and lifts you she's elected wants to give them. Education for three. But we wouldn't. A. 21. Of penalties Macon 125000. Loans given four separate. Estimated cost 500 billion and she wants to tax the bear re rich to pay for. You think that's feasible. No I don't think that's feasible. I mean who knows what's gonna happen here. And have huge Atmel. Fewer and fewer people proclaimed themselves as rates and I gave you fail you know Leah. You know he'll only tax the rich but again in that tax code is so complex that you know the rich have the resources to. To minimize your tax slayer abilities and view that the war. They're told that their tax liabilities and responsibilities. Are definitely increase well again. They're gonna use their resources to. Carry two to decrease their liabilities Italy. You know until the it's the only thing that would be expected of them. People are here we come forward say oh yeah yeah all. Let me Bill Perry on you know on higher marginal tax rate because it's a fair thing to do well you know. There's some there's there is that different even an economy so we'll come to the big you'll have to concede there is a difference between theory and reality. Are and here's thought for more rubio. The most wealthy. Investors. Grew to paper of college student's education. In exchange for a set percentage of their future incomes. Which is paid out for certain number of yours Anther regrets what your thoughts. World that come closer to the to the idea of this diocese that. That you know missed blinked and missed fairways. What is was talking about that there has to be a linkage between. The the eventual. Pay backing up alone in the purchasing power of the individual. And which goes back to the the idea of having having any real link between individuals. Skill sets. Irate and what their future incomes are going to be because. You know if you if you want to. Minimize if you know years. You're dead well you have to be you have to be marketable activities. In today's economy. You know it's nice to say. That. The you have college degree from you know from Xavier from Tulane. But again there the reality is that. You know his career reality is quite signal as everyone made two. Two. To get a college degree. And when people realize that you know would it take you know closest seriously look at you know what their career. Opportunities dollar. Then. They'll probably see that you know maybe that game four in a four year degree is beneficial to them definitely went when they come to the realization that. The you know I alike type of debt will not be in their future if they think of their careers otherwise. But booted somebody doesn't get that college agreed to an eight. I mean you you can't really apply for jobs that pay is sure in March other then. Going to weigh. Mum mum no it didn't even do that. A college jury. Entities that TJ you're trade right. Well guess and that's where the responsibility. You know for example junior colleges and our community college is a company and to be you know ever ever so more important because if it's technology increases. The the demand for Erica a more productive force workforce in what used to be called. You know. Blue collar jobs. Is that is ever more so demanding. You know one of the study. A recent study by a professor Robert Barrow. Harvard University. Say that they. The slow. Growth that the economy is experience ever since the the recession of 2009. Is attributable to two things. Number one the lack of productivity. Of the media. Of the work force and number two the over regulation of the hunt for the economy by the by the federal government. And if we don't take a look at that. That that leads to increased productivity. By getting the right people rate training in the right jobs and you know Mac. Burdening people with debt and then you know the economy will be better off. Final question only have about a minute. What what's your timeline how long can we carry this cat. How long before like hounding prices at Bre x.'s and you really EC and the answers. That. Could. Boarded that. Well it. Again you know. Is that typical it depends you know there there are a lot of virulent of you know contingencies that have to be that have to be addressed here. Universities themselves you know four year colleges have to take a very very strong look has to know what the hell where there. Where their faculty is most productive. The delineation between. Resurgent teaching. And colleges and universities really has to be examined where you know is it. Where is it more cost effective if it's universities. Are more are. Productive doing the researchers generating the innovations that may access you know they in the war productive economy they need to concentrate here. Pay people to be gay people a reason to be researchers. If you have people who hurt you know communicate better and better in the classroom then. You know didn't BO pay them to teach. But don't pay people to teach toward the churches and in don't pay people to to be in the classroom don't communicate well. Bottom line and sounds like very complicated birds scary very dangerous situation. Well you'll follow up and as always doctor dees says thank you Brooke call. Are covered up bags we'll talk to be you know president to viewing though. You're gonna have chances decide where the lid is slowly towards. Or the universities. Themselves. Can set to wish. Well the legislature. I'm like I'm playing mode states in the news conference in. As well into the power is said to bush and outrage for universities. That goes the brings a little bit come November. You will be able to vote borrowed that the legislatures. Said its tuition or universities. And so it's. And are pretty jaguar opinion what we're hungry as Q who should control. Tuition cost. Louisiana legislators. State voters he would it's 62%. Voters at this point. And wouldn't wouldn't do it won't happen. Louisiana and everything are Reid has reduced. In its funding of higher education more than in the of the state in the country since 2000. Eat. And and poured I think it's in the next academic year. There's some talk in the legislature. Over 42 million dollar code coming again. Better understand all the tribunal's president John nick blow witnessed John thank you so much for the call. Horrible form I had 101000 questions. Your thoughts. If approved it cuts. Institutional amendment would simply movie authority to adjust tuition from the state legislature to higher education. Management boards and in the state university in New Orleans that means the university of Louisiana system board of supervisors. You are correct but the majority of states. But do not operate like Louisiana currently. There are only two states in the country Florida Louisiana. That require the legislation but legislature to approve. Tuition adjustments. Louisiana the only league in the country that require supermajority or drew two thirds vote of the legislature. And what what this amendment does does is shift that to the management board basically recognize that. I believe that each tuition is best position to know what to assemble works best for. In and correct me if I'm wrong. A tingle when you're universities have some of the imports tuition rates in the south. But I've heard some concern that have been goes to the funeral birds in the news it could become more expensive. At a time when Topps is being cut making it less supportable for those who can't afford college. Right we do have some of the lowest tuition rates in the country. But let let me put persuade justice our listeners are your listeners are business owners. They have the authority to address adjust their prices to become competitive in the market. Higher education needs to operate under similar business model. This is not the green light to raise tuition by any means and then back but he put it as well why would. Such a thing of the time. When I'm trying to roll and roll that this institution. Significantly raising tuition will just tenders that. Our ability to grow. And frankly strikes deserve. We recently ranked in the top 25 I think we're number fifteen or sixteen in the country. And institutions would be lease debt. In the couple that with we were ranked. Top Louisiana with the regular salaries and you gradually here would be at least that. And high salary I mean at that that that a tremendous return on investment. The unfortunate part is that maybe what people were talking about. It strictly speaking right now I want to work which in the more competitive I could not do. I need legislative approval so it just means the ability to operate like business to them and operate in the market would be competitive. All right commentary Greg. What do you think Jews in 017. In court actions comments. You're gonna have giants in November to decide. Will blow legislatures. Said to addition brilliance at university it is or will the U of birds seduced. Wrong the radio with the had a viewer know John and blow Europe called stews a juror one need settling. Double BO. Important issue in the November ballot you were going to be out student's side. Well good good legislature maintains the pop world vote and sending to would actions that universities or the university is been settled. We have you know president John Nicol would this. John do you mentioned. You know ranked 1516. Did somber and that. About a category in the in the nation. For the leafs debt and for your brand to its highest salaries. Ha how do you compete. On attracting. The best features the best Ph.D.s. Or keeping. The best PCs. When you had tremendous college were eight years. I think our our priorities and alleys. Strategize to meet those priorities we a lot of efficiencies and cut back a lot of different areas but. Quality teaching me academic rigor here in the quality programs is now. And we continue to attract. Some other universe student population and and and some incredible faculty. And the high performing students that. But that we really worked hard thing to do recruit and to bring here. The one place but it has been frankly challenging under the current environment state reductions. A little bit of oh boy leaked on discussion from where we started. But it does look good report landslides from the BBC really detailed review reliefs and took. About how salt Warner and he's actually do an actual speed of technology. Is changing world. And there they're talking about it in very short or more can cheers telemarketers. Picked elements. Even journalists even radiologists. Truck drivers goes on and on and on. Joseph I'm so that we all were for jobs that we thought. Wouldn't be Brooke planes. Are you in in very short order could end or being replaced. Is there any way in education. To look to the future in save his students. Eight. You majoring in something that may not be around the or it is going to be burn low and pay because of technology. That make any sense. That it absolutely does girl and they and what I wanted to say is that institutions like hours and and I think we do very very good supplement. Train students to think critically we are not and myself I'm an engineer. I've not been trained to solve these specific problem I've been trained in how to solve problems and help innovate and and how to keep up with my skills and can lifelong learning continued learning. Adding that what we focus on as an institution to make sure that our students cannibal. We recognize the fact that weather would be due to technology or other factors. But it is that this is not a stagnant workplace. And then business will all in some cases very rapidly and our our. Our work force a student there were graduating need to be able comedy and and meet that need. All right if you will that moves on the caller John Gretna. You're on Libya president the viewers know John that. Yet. Microsoft is sincere. The some research and chairman told B. That is Nokia called cops and basically that. Which. Can crop tops and the follow up pops. And I think dance that should be gone I should go it should go court you know on the if you let me and he should be greatly children's education. I don't disagree with the I really think Adam did that. There are opportunities to look at how to make sure that the system is working the way it was originally intended. I believe there's an opportunity to make sure that those are applying pork tops are looking to receive. Ever serve first. They're exhausted every other source including held dollars or state program dollars or other other aid. Before we go well I'll send them I think that under discussion I think those are those of the topic being discussed and I've seen them. Proposal that. Are along the lines of what you're talking about where you hear the award based on Stanley contribution ability for the Stanley to contribute to education I don't disagree at all. Only about a man who that would developers have or that you know with a couple of economists. Talking about one point work for a million dollars student job a student debt load in this country. Can we sustain education the in this country would that common. If you look at numbers. Garland I'd say absolutely not limited immediately bit more detail on. 62 birds if we look at public universities 62% of graduates. Graduate with less than 20000 dollars in debt and of those bachelor's degree earners they earn a million dollars more if they have that degree than they just analyze school diploma. I think what upset that number that the one point four trillion. Is private institutions are included demand numbers not the pro prop burglar and Clinton numbers and yet if it's hot and it's very concerning its. Look at public institutions and I think we've done very good job of keeping that bit down over half of the students at university of new world and graduate with less than. 20000 dollars and. Jon dude does say you're dizzy is an understatement thank you so mud for taken that tong and I think we're ago that education you have a good day. It John Dick Cologne. You know president word come right back dubbed it a bill big 170 AM 053 up and cover and eggs don't go away is screwed in the afternoon rigged elections damaging him mailed sex scandals. And we still have three more weeks and two Election Day. You'll ask has any of the above change your mind who you're blown far. Hordes of made the decision the eve harder that a more come out of that would screwed thank you so much for listening. Pro Robert what we called it the thing today. One of the god thank god drone worker Helen its intently. John puts up with mud jokes between commercial. Helen put to probably just what import sub and so thank you boat and everybody have. Read day.