Taken from JRE #1508 w/Peter Schiff: https://youtu.be/OK2zgeJLVwU
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Taken from JRE #1508 w/Peter Schiff: https://youtu.be/OK2zgeJLVwU
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I think it's ridiculous to blame 'the left' because the government bankrolls student loans. IF it weren't government, it would be private lenders. And in fact, the need for student loans could be mitigated if we invested in higher education, making it affordable the way it was for the Boomers. But no, we'd rather dump every last cent into the DoD. The DoD, which hasn't really done much of anything useful since 1945. By the way, this is how they do it in other countries. Doctors in Germany aren't coming out a quarter of a million in debt. The US is retarded.
Imagine making that choice at 18 when your brain's frontal lobe isn't even fully developed.
For the record Jefferson proposed free tuition for the poor at the University of Virginia.
The real problem is every time the democrats say they will do a social program they usually go through the financial system, and each time it has resulted in financial disaster. Mortgage crisis, higher education, and the ACA are the three glaring examples.
Germany has free education for those who are accepted and free vocational for others. But the German universities are very frugal. One school I visited an art school had a nearly one hundred to one student teacher ratio. Most of the work was done without instruction it was a communal facility with visiting instructors. I found that student teacher ratio is high in other disciplines as well.
The USA has instead bloated administrations, swimming pools, presidential salaries in the hundred’s of thousands per year, and a lot of other wasteful spending.
So I agree that one of the solutions should be no loans. But I also think the lending was demonstrably predatory. In fact there is a long history of law suits. But the lawsuits really did nothing.
Crony capitalism
There was also huge incentive in the 1960s to go to college as this was one of the main means of avoiding the draft for the Vietnam War.