Canceling Student Loans Is A Middle Finger To America

8/24/22

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Maybe you shouldn’t go to college.
The vast majority of college-bound students should go to a state school where they pay in-state tuition. Even better, go to a community college for two years, pay next to nothing, then transfer to a state school to finish your degree.

A $400,000 bill?
Now imagine if his daughter were taking out student loans to cover the cost—because that girl is out there.
Nobody can afford that.

“How in the world did college get so expensive?”
It’s simple, really. When you subsidize something, the price goes up.

The federal government is a price-insensitive buyer of college tuition. It’s willing to lend just about any amount of money to any student to go to college. It doesn’t require a credit check. It doesn’t require a student to have any kind of plan to repay the money. A few forms, a few clicks of the mouse, and voilà! it just hands over tens of thousands of dollars.

This is why the cost of attending a four-year university has ballooned 180% since 1980.