May 9, 2014
HIGHER EDUCATION “SAY WHAT!?” ALERT: George Leef has another great column over at Forbes. This time he explains how Uncle Sam’s Obama-inspired “generosity” approach to student loan policies not only encourages more debt but also low-paying, public sector work.
All I’m going to say is that I put myself through law school using student loans, and I will pay them off sometime this year (!) Equity aside, the feds weren’t so “generous” to me; I didn’t have loans “forgiven” because I took a relatively low-paying job as a law professor. Somehow, through prudence and hard work, I’ve managed to pay my debt back and have a comfortable life. And if they had offered such forgiveness, I would have felt like a loser. “Generosity” like this is often perceived by the capable as a handout to the incapable. To borrow a phrase from Frederick Douglass, “your interference is doing  a positive injury.”