In response to:

Terminate the Racket of College Loans

CraigWBryant Wrote: Jun 13, 2012 10:24 AM
Student loans do not make college more affordable, they do not lower the cost of education, the merely defer the cost, on, and they add interest so they actually increase the cost of education. The point about student loans making money readily available and thus directly increasing tuition rates is spot on! The reality is that right now, today in America, parents getting ready to welcome a child into the world are smiling through clenched teeth because they know that it is going to take a monthly contribution from the moment of birth in order to be able to afford to send that child to college.

One of the ways to cut the big-spending binge engaged in by the federal government is to terminate the racket of college loans. It's counterproductive, discriminatory and a bad investment for both taxpayers and students.

College-loan debt has soared to nearly a trillion dollars, more than credit-card debt or auto-loan debt. Financial commentators are beginning to compare college-loan debt to the housing bubble that nearly brought down the banking system in 2008.

However, it's not the banks that will be the big losers if the bubble bursts. It's the taxpayers, because the government is now on the hook...