Federal Loan Programs Draining Students to Inflate Debt Bubble
show comments
  • Corlyss

    “despite the lofty rhetoric about how government loans offer disadvantaged young peopl a path to college,”
    I suppose the putative model for the student loan program was the GI bill educational benefits. In the discussions at the time there was statistical evidence to show that college grads made more money, and could therefore be expected to pay more in taxes as well as benefit their own families. I guess the Utopian vision behind offering undereducated and ill-prepared disadvantaged people an opportunity to go to college was pretty much the same. The fact that so many disadvantaged kids obtain such loans is just coincidentally a way for the Liberals/Progressives to prove a lot of their cherished nostrums about IQ and poverty on the taxpayer’s dime.

  • Jane the Actuary

    Yet we hear repeatedly that college is “worth it” no matter the cost!

    Is college “worth it” because employers hiring for even low-paid semi-skilled jobs are asking for college degrees due to the poor job market and consequently large numbers of unemployed youth? Maybe, maybe it’s “worth it” to any given individual — but it is definitely not “worth it” for society as a whole, for so many people to be paying so much money to go to college. And these stories of student debt don’t even consider the parents who take out second mortgages and spend their retirement savings on their children’s college education, then can’t afford to retire. http://janetheactuary.blogspot.com/2013/07/is-college-worth-it-ask-wrong-question.html

  • Kelly Hall

    The edu-aristrocracy is getting rich off the backs of hard-pressed students, many of whom have nothing but a lifetime of indentured servitude ahead. The academic elite are helped along by the political aristocracy in the form of ultra-inflationary subsidies, which are quickly morphing from grants and scholarships into high-interest student loans. Theiy seem to have no idea what damage they’re doing not only to these students, but ultimately themselves.

    On the other hand, maybe they know exactly what they’re doing, and intend to co-opt this army of debt-ridden students to do their bidding. Perhaps these students will be coerced into joining “debt brigades”, under the auspicies of, say, the DHS. In exchange for “debt forgiveness”, they will be compelled to further the regime’s cause by creating and distributing propaganda, conducting surveillance on family and friends, operating drones (since so many of them are expert gamers). You know, kinda like the Peace Corps meets the Stasi.
    Good times to follow.

© The American Interest LLC 2005-2017 About Us Masthead Submissions Advertise Customer Service
We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.