“This country has achieved its success due to capitalism, entrepreneurship, risk-taking…Yet the government sees fit to forgive student debt for people who choose careers in regulation, wealth redistribution and just plain giving stuff away. Talk about turning your back on what works. Talk about “fundamentally changing America.”, Guy Randolph, Savannah, Ga.
Education Policy Discriminates Against Private Sector
We are rewarding our brightest and best for turning their backs on the private sector.
I read your editorial “Obama’s Student Loan Blowout” (Sept. 10) in amazement. It basically lays out the plan to forgive student loans to people pursuing careers in government and nonprofit institutions. This country has achieved its success due to capitalism, entrepreneurship, risk-taking and just plain making stuff. Yet the government sees fit to forgive student debt for people who choose careers in regulation, wealth redistribution and just plain giving stuff away. Talk about turning your back on what works. Talk about “fundamentally changing America.”
This policy is as big a threat to our country’s future as terrorists are. We are rewarding our brightest and best for turning their backs on the private sector. We should be focused on innovation in product and production, not better written regulations and more handouts. This policy is the poster child for what is wrong with the direction of our country.
The taxpayer picks up the bill for a burgeoning new entitlement that has been administratively created. Is there anyone so blind as to not see a continuation, even an acceleration, in preposterous tuition increases? I can assure you that tuition increases didn’t cause loans to be initiated. Rather, it’s the other way around: Loans have caused tuition to go up.
Government loans are easy picking for the student who feels payback is a lifetime away, easy for the colleges since they get all the money and none of the obligation, and great for President Obama, for he and his followers can capture a block of voters at the expense of taxpayers who pay the bill
Robert V. Iosue
Mr. Iosue is a retired president of York College.
There is no constitutional authority for the federal government to play any role in higher education, much less lending billions to students who aren’t likely to repay much of that money.
The student-loan debacle demonstrates two points that Americans need to keep in mind. The first is the “public choice” insight that politics leads to laws and programs that enrich a few at the expense of the many. The future government functionaries who will get much of their education paid for by the taxpayers—while enjoying jobs that pay better and have greater security than most taxpayers have—will benefit handsomely from Uncle Sam’s generosity. The cost of that generosity will be hidden from the great mass of taxpayers who must pay for it.
Then there is the Austrian school of economics observation that each government intervention in the workings of a free society creates problems that inevitably give rise to more and more interventions, as politicians try to deal with the mess they’ve caused. Federal subsidies for higher education have led to an incessant rise in the cost of college. In response politicians come up with new programs intended to improve “access” and “affordability.” The Public Service Loan Forgiveness program is a foolish attempt at solving a problem that wouldn’t exist if the feds hadn’t begun meddling in higher education.
John W. Pope Center for Higher Education Policy