Sunday, June 26, 2005

Student Loans Suck

When government programs go bad

More and more press is being given to the Clinton-era (not a bad President in many respects but not in this case) expansion of the federal student loan programs. This easy money (interest rates at below market values) has caused inflation in higher-education and saddled kids with too much debt. This has created a generation or two of graduates who are faced with more debt than they can handle, and has reduced their standard of living below that which it should be out of school. Let's recognize this problem and stop federal subsidization of universities. Let schools compete freely in the market with real prices.