Student loans

Thursday

Peter Wood

The unforgiving history of student loans

Republicans in the House are considering a bill to make major changes in federal student loans for college, and President Trump is floating the idea of making colleges responsible for borrowers who fail to repay. For decades student loans and their repayment are never far the center of controversy, but it wasn’t always that way. I grew up in the era before massive student debt. Student loans were available in 1971 when I went off to college, but they didn’t dominate the terrain like a Tyrannosaurus rex. They were more like Barney, the joyful purple denizen of PBS, who had a ferocious appetite for public funds but had not yet evolved into the carnivore who preys on the livelihoods of college graduates.   But the student-loan monster had already been born.

student loans

Sunday

Marc Oestreich

Want student loan forgiveness? Make universities pay

At the turn of the twentieth century, Saturday Evening Post editor and Yale dropout George Lorimer bitingly summed up academia when he said “colleges don’t make fools, they only develop them.” On the heels of yet another multibillion-dollar Biden administration college bailout, it seems we haven’t learned the lesson: colleges might not make fools, but they’re certainly trying to make fools of us. The bailout projects come from a Biden campaign promise: “I will eliminate your student debt.” Half-slogan, half-bribe, this resonated with millions burdened by the unpayable debt brought on by liberal arts degrees that may barely be worth the paper they’re printed on.

debt

Monday

Joseph Moreno

Biden’s absurd student loan ‘solution’

You’ve got to hand it to President Biden — when he puts his mind to something he doesn’t let mere semantics like the rule of law stop him. Despite an earlier Supreme Court slap down, “Middle Class Joe” provided an upper-class gift to some 150,000 college graduates in the form of $1.2 billion in student loan forgiveness. That brings total educational loan forgiveness under this White House to $137 billion effectuated by nothing more than a stroke of Biden’s pen via executive order. Biden openly boasted of his defiance, all but inviting the justices to try to stop his patronage gambit. It’s not that anyone can blame him, because it’s a political win-win for the White House.

Friday

Rob Crilly

The sideways thinking of Silicon Valley

It was the tweet posted by the New York Times that caught my eye: ‘Silicon Valley is backing a novel idea: instead of charging students tuition, students go to school for free and are required to pay back a percentage of their income after graduation, but only if they get a job with a good salary.’ It is all happening at the Lambda School, a new online learning start-up that this week won millions of dollars in backing from a glittering line up of venture capitalists – including Google Ventures, Ashton Kutcher, the actor turned Shark Tanker, and Geoff Lewis, an acolyte of Peter Thiel, the co-founder of PayPal.

lambda school silicon valley