June 10, 2014

BAD REVIEWS FOR OBAMA’S STUDENT LOAN SCHEME. It’s just a vote-buying effort aimed at Millennials, and Politico is right that it only adds to the debt.

Related thoughts from Marco Rubio.

UPDATE: Here’s Rubio on Bill Bennett this morning. ““I mean, one of the fundamental problems that we have in America today is we have a mid-20th century higher education system, which is a cartel that protects itself against innovation and competition. And it is awarding a lot of degrees that don’t lead to jobs, and it’s charging a lot of money for it.”

ANOTHER UPDATE: “Obama: We Have to Do Something About Student Debt and This Is Something.” Heh. That’s about right. “When federal lawmakers forgives debts—in part or in whole—they reward students who borrowed recklessly. They also incentivize universities to raise tuition prices. College administrators know that they can get away with demanding more money, because students will take out more loans, confident that the government will bail them out if they run into trouble—and the government will stick the taxpayers with the bill if the students aren’t able to pay.”