Has it been worth it? The budget this year is $70+ billion. We’re probably on the hook for a couple trillion over the 40 years. Has it been worth the investment? Did the creation of this agency improve the quality of education in America?
Isn’t it true that the government’s student-loan program has allowed college tuition to rise exponentially? The ones getting wealthy at the expense of students are university faculties. Is there any wonder they’re all far-left liberals?
Why can’t students get loans from private banks? Why is the taxpayer obligated to fund another adult’s college education? I read that the default rate is around 11% at public universities and 15% for private ones. Why is the taxpayer obligated to eat that loss?
The student-loan business is BAD policy. For that matter, the DoED is BAD policy as well. The money being sent to pay an army of bureaucrats in Washington would be better spent at the state level.
If a private sector company invested $2 trillion into something, I think they’d be asking themselves if the investment was worthwhile. Why is it that we don’t ask such questions when it comes to federal spending?
I recall a few months ago the CEO’s of major lending institutions testifying to Congress that they got out of student loans back in 2010. Thanks for the link.