Student Loan Ball and Chain

Carol Platt Liebau
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Posted: Apr 24, 2012 11:44 AM
Desperate to recover some level of political support from young people, President Obama is pressing for an extension of the law that would prevent interest rates on student loans from rising.  This is, we are told, a national issue of first importance.

Funny, then, that the President couldn't be bothered even to vote for a similar bill back in 2007 . . . when he was campaigning for president the first time (and had the youth vote locked up).

With young college grads unable to find jobs enabling them to repay their loans  -- fully 53% of young college grads are either un- or under-employed -- apparently, the most the President can do is rely on a government "fix" to improve their lives.  But what's worth noting is that $36 billion is owed on student loans by Americans 60 and above -- what's more, more than 10% is delinquent.

It's worth noting that college tuition has already increased drastically -- in part because of the long-lasting Obama recession.

For now, a delay may be necessary . . . but the wiser long-term course is to hire a President with the capacity to see that young people are not un- or under-employed -- and who knows how to get the economy to grow, yielding economic activity that in turn funds universities, so that young people can get a decent education without selling their souls -- or their futures.