The Great College Loan Swindle — I’m Majoring in Debt

“We’ve been thinking about this issue for a very long time. One of the most important things we can do is to make student loans more difficult to get. Who gives $75,000 to an 18 year old? That’s just unwise even if it is for education. But the government makes such sums available and young people all too often become ensnared.

However, any talk of reining in student loans elicits howls from the universities (they love the easy money) and also from prospective students who don’t want to be shut out of the middle class because they don’t have funds for an education.

The latter objection is fair. But something still needs to be done and it will probably have to be somewhat painful.

As we’ve said before, the university system is primed for disruption. It is so full of fat, and corruption, and ridiculous debt, and inflated salaries, and inflated grades, and political correctness, and decadence, that something has to give.”