I've been of the belief for some time that Government backed student loans are nothing more than an enabler and transfer payment to the Bill Ayers' of the world.
If you ever wanted to get education costs under control, you'd get rid of financial aid of all types.
But Gordon, without financial aid, students couldn't afford college.
Really? Consider this. In those old fashion days before grants and loans, a student could actually work a part time job to pay for school.
Now, with annual rate increases of 8 percent or more (more than double the CPI) a student doesn't stand a chance of going to school without piling on tons of debt.
He's a quote from a current grad.
“You often hear the quote that you can’t put a price on ignorance,” said Ezra Kazee, who has $29,000 in student debt and has been unable to find a job since graduating from Winona State University in Minnesota last May. “But with the way higher education is going, ignorance is looking more and more affordable every day.”
If we zap these institutions of unaccountable government dollars, they'd actually have to tighten a belt or two, or three....
More at the NY Times
2 comments:
Student loans are why college costs so much: http://online.wsj.com/article/0,,SB112476275533420293,00-search.html?KEYWORDS=vedder&COLLECTION=wsjie/archive
If you subsidize something, you are removing price sensitivity from the equation.
I think it came to the point where people thought student loans are the solution, when partially it has contributed to the problem. They're not completely bad, but you do have a point--before loans and such, students worked part-time for college and they survived, without debt I might add.
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