Americans are rapidly enrolling in programs to relieve student debt, a development the Obama administration credited for a decline in borrower defaults but also raises the risk of leaving taxpayers to cover a large share of loans.
Source: Enrollment in Student-Debt Relief Plans Surges – WSJ
I commented.
When is everyone going to get it?
I am a former math professor. I taught at an elite school and a regional state school. I saw the same thing happening in both places – and it wasn’t education.
(Ok, maybe a little, but usually not enough to write home about, or impress an employer.)
Here is what I saw.
Money in, graduates out Educational values sinking.
So, here is what I see when I see student loans.
I see money passing straight through “consumers” (once quaintly called “students” by naïve professors who hadn’t yet figured out the gravy train they could get on), and directly to the institutions – with just enough passed on to the political and financial establishment to keep the whole thing going and out of sight. (For that, thank politicians like Lamar Alexander and the Chancellor of Vanderbilt. See my blog www.inside-highered.com for the story of the “scientific” report from Vanderbilt.)
This tremendous waste of resources, human and financial, needs to stop.
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