Empirical evidence shows that government subsidization of higher education drives prices up—way up. Colleges respond to this easy money guaranteed by tax-dollars by jacking up their prices well above what families could afford to pay on their own, and spending the resulting cash with abandon. Simply put: The more government interferes, the more tuition rates jump. The more tuition rates jump, the more government interferes. The student loan forgiveness program will only exacerbate this problem by encouraging more borrowing and thus higher tuition than ever. And, of course, both Washington and Wall Street turn a profit through the whole process, bilking taxpayers and beleaguered students alike. So yes, college is too expensive—but added government interference is more expensive still. It’s time we kicked Washington off the quad. Read more at rare.us/story/yes-college-is-too-expensive-but-forgiving-student-loans-wont-fix-it/#EcATaCYTO6ifSfes.99
Posted on: Mon, 22 Dec 2014 23:40:19 +0000