Sunday, March 18, 2018

Who Will Banish the Madmen in Education?

From Return to Order:
The modern mantra is that all students need to attend university. Thus, young people continue to enter colleges in droves. As a result, they pile up massive amounts of debt, which they owe mainly to the federal government. Such student debt now stands at an astounding $1.4 trillion and growing. The problem is that more and more graduates fail to pay back their loans. Federal loan programs can only work on the assumption that they will be paid back. In fact, interest collected on these loans has always been more than enough to cover costs. For decades, the government has even shown a surplus — a rare feat these days from any government agency. But the federal loan programs are now projected to lose tens of billions of dollars. And young people are getting the blame. (Read more.)
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