From Mish, here:
Obama brags about safeguarding student loans. That is like bragging about safeguarding the plague.
Student loans have done four things, all of them bad.
Jack up the cost of education
Make students debt slaves for the rest of their lives
Unjustly hand over huge profits to schools like the University of Phoenix at taxpayer expense
Add to the national debt
The best thing to do with student loans would be scrap the program entirely.
America worships at the altar of a secular god, education. The student loans are the sacrifices offered thereon. The professoriate is the priesthood, which grows fat on the first fruits. And the campi are its churches and cathedrals. The Ivies are the Holy See. And the liberalism taught there is the indulgence of its day. It desperately needs a Luther to nail it to the wall. Perhaps he will be called Bankruptcy.
