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Reducing Student Loan Debt in W.Va.

December 24, 2013

West Virginia lawmakers have spent the past year discussing college affordability, as it pertains to their effort to increase enrollment in higher education programs....

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Ragnar

Dec-24-13 4:41 PM

If many students are taking 5 years to finish school, with tuition at $20,000 per year, what do you think will happen if the state starts nudging the schools into 4 year graduation rate increases?

Two things. First, classes will be dumbed down even more to ensure more students graduate on time.

Second, tuition will rise to $25,000 per year.

Let's just tell the truth: college, like homes and health care, is massively inflated due to the availability of cheap money and government subsidies.

If we phased out all government involvement in health care, all financial involvement in mortgages & all financial aid for colleges, you would see a reduction in price increases and then a wholesale decline.

But our economy depends on debt upon debt. Today's mortgages, health care premiums and student loans are packed at securities and sold to investors, who hope to reap huge returns on them.

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