Terminate the Racket of College Loans

Terminate the Racket of College Loans

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...