The Obama administration’s taxpayer bailout of student loan borrowers does nothing to change the cost of education, Heritage Foundation expert Lindsey Burke points out.
“After all,” she asks, “why should colleges reduce tuition rates if the government keeps increasing student-loan subsidies?”
In testimony last week before a Senate committee, Burke condemned the current higher-education borrowing system and called on Congress to take action:
- Stop the higher education spending spree;
- Employ fair-value accounting to understand the cost of federal student loans; and
- Decouple federal financing from accreditation
Do you think the solution to soaring college costs is more subsidies for education?