As a country, particularly one with an advanced economy, we need to subsidize education in order to remain competitive. Generally the left would have preferred to just directly subsidize schools by giving them money, but instead we have the compromise plan of student loans. And boy is our system compromised!
We have the compromise plan of transferring future cash flow of students and taxpayers in the case of defaulted borrowers into the pockets of college administrators.
All under the guise of “helping” students while keeping taxes low.
