We need to align the incentives so that colleges have an incentive to keep down their costs... to graduate students on time with degrees in areas where they're going to be able to get jobs and going to be able to pay back those loans.
Interpretation
Colleges should be motivated to reduce costs and help students graduate promptly in career-focused fields.
Elizabeth Warren's quote emphasizes the importance of aligning financial incentives for colleges with the goal of lowering educational costs and ensuring that students graduate in a timely manner with degrees that facilitate employment. This alignment can help students secure jobs and successfully repay their loans, highlighting the need for educational institutions to prioritize practical outcomes in their programs.
In practice
In a speech about educational reforms, this quote could highlight the need for accountability in colleges.
Families rely on financial services more than ever, but those who need them most - who struggle to make ends meet - too often must contend with sky-high interest rates and tricks and traps buried in the fine print of their loan products.
There's been such a sense that there's one set of rules for trillion-dollar financial institutions and a different set for all the rest of us. It's so pervasive that it's not even hidden.
Mitt Romney is the guy who said corporations are people. No, Governor Romney, corporations are not people.
I talk to nurses and programmers, salespeople and firefighters - people who bust their tails every day. Not one of them - not one - stashes their money in the Cayman Islands to avoid paying their fair share of taxes.
'Middle class' used to be synonymous with secure, with steady, with boring, because middle-class people were people who were pretty much safe from the time they first started work on through retirement and until their deaths. No longer.
Does anyone believe that Goldman Sachs is gonna give up a deal that would yield millions of dollars because someone fussed at them behind closed doors?
I tell young people to prepare themselves as best they can for a world that grows more challenging every day-get the best education they can, and couple that education with real-life experience in social justice work.
The advancement and diffusion of knowledge is the only guardian of true liberty.
The entering class I joined in 1956 included just nine women, up from five in the then second-year class, and only one African American. All professors, in those now-ancient days, were of the same race and sex.
A man who has never gone to school may steal from a freight car; but if he has a university education, he may steal the whole railroad.
When I'm writing, I'm never trying to teach anything - maybe I'm trying to illuminate.
Eighty percent of the cases used in the typical MBA program are about successful companies. Students graduate with this notion that 'If I do everything that the people in those cases did, then my organization will grow and be successful, too.'
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