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Politics : Mainstream Politics and Economics
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To: koan who wrote (47732)7/6/2013 2:17:42 PM
From: TimF  Read Replies (1) of 85487
 
Bush didn't create the student loan program. Its been around for awhile.

Your not going to get banks lending unless they can get a spread on it. Yes you probably want the government to make the loans, but while banks might not get the money then, you have to set up new government programs, and you have to deal with those who won't pay it back. Meanwhile your forcing the country as a whole, to subsidize a group that is overall richer (College students may not be rich at the moment, but their families are on the average richer than the average family, and those who attend college, esp. those who graduate, on the average have higher incomes then the overall average income).

And with all the subsidies you help drive college tuitions up, as people will pay more if they can get subsidized loans to pay for it.
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