Why is college so expensive? Well, subsidize anything like we have a college education in this country and the price of that thing will rise. It’s not complicated and nothing’s “free.”
By taking over the student loan program, Obama in essence politicized it. Last year on the campaign hustings, both Hillary Clinton and Bernie Sanders repeatedly talked about making college “free.” That is, they want to socialize the costs, but privatize the benefits, of a college education. Still surprised people aren’t paying their loans?
This mindset is made worse by the fact that the federal government isn’t lending its own money; it’s lending taxpayers’ money. Politicians don’t care whether it’s paid back, just that they get a pat on the back for “doing something” about college costs.
The problem is, by subsidizing college with cheap loans, the government only drives the price of tuition higher.