The far bigger problem, however, is the long term effect of cheap federal aid. Both overwhelming evidence and logic make it clear that the main effects of federal aid are rampant tuition inflation and millions of people taking on debt for schooling they either cannot handle or aren’t all that motivated to complete.
Is it just me or is this a spitting image of the housing crisis? It's got all the same makings. Gov't elites deciding that everyone should be able to go to college, regardless the cost or even the long term value of what a person might get out of college. As in the housing market the pols ignore the causes and decide the crisis lies in treating symptoms, which only exacerbate the problem.....
Americans desperately need to learn the lesson of subsidies. If you want more of something, in this case personal debt, subsidize it. If you want less of something tax it to death...... |
