April 25, 2012
As President Obama travels the country urging continued federal subsidies for higher education, The Heritage Foundation’s Lindsey Burke weighs in on the issue in an interview with the Washington Post:
Keeping interest rates artificially low will fail to drive down college costs in the long run. Colleges will once again be able to increase costs, and students with easy access to low-interest loans will once again be able to pay. The Obama administration has significantly increased federal involvement in the student loan industry, effectively nationalizing student lending through language buried in Obamacare, by continuing to increase federal subsidies, and by “forgiving” student loans altogether after 20 years on the backs of taxpayers. But these policies only exacerbate the college cost crisis, continuing a vicious cycle whereby college costs rise in tandem with ever-increasing federal subsidies.
What do you think the federal government’s role should be in higher education?