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Sid14 Wrote: May 03, 2012 11:49 AM
Since most of the kids in college don't really belong there, they will drop out, never realizing their goal, but will be stuck with the loans nonetheless and no income to pay them, in most cases forcing them into default, which is EXACTLY the desired result. They never knew what they were in for when they took out the loans to begin with. Shame.
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It is something of a truism that whenever the federal government steps in, costs usually rise and efficiency declines.
That is especially true when it comes to a college education, which President Obama promised during the 2008 campaign to make more affordable. "We've got to make sure every young person can afford to go to college," he said then. Instead, tuition costs keep rising, along with the debt owed by increasing numbers of graduates, who are now campaigning -- with bipartisan approval in an election year -- for Congress to stop interest rates on their subsidized Stafford loans from doubling...
College, Loans and the Road to Success