Democrats re­spon­si­ble for stu­dent loan debt cri­sis

The Morning Call - - TOWN SQUARE -

El­iz­a­beth War­ren and many Demo­cratic lead­ers want to have stu­dent debt re­tired by tax­pay­ers rather than by stu­dents, their par­ents or the col­leges and uni­ver­si­ties they at­tended. If such a pol­icy were ever en­acted, it would seem only fair that it also pro­vide for retroac­tive spring and hol­i­day breaks for me and my peers who got our higher ed­u­ca­tion in the 1950s and early 1960s and al­ways worked full time dur­ing those breaks in or­der to pay the bills.

It’s true that col­lege costs have sky­rock­eted, mak­ing it al­most im­pos­si­ble to work one’s way through most col­leges to­day. Dom­i­nant among the rea­sons for this was pas­sage of the Higher Ed­u­ca­tion Act of 1965 dur­ing the John­son ad­min­is­tra­tion, pro­vid­ing for fed­eral fund­ing to guar­an­tee stu­dent loans.

Not sur­pris­ingly, this act and fol­low-on leg­is­la­tion be­got the dooms­day cy­cle of loans be­ing too eas­ily avail­able, most col­leges aban­don­ing pru­dent spend­ing prac­tices, tu­ition costs ex­plod­ing and ac­cel­er­at­ing de­mand for even more stu­dent loan dol­lars.

An­other ex­am­ple of a well-mean­ing Demo­cratic pol­icy with un­in­tended con­se­quences, iron­i­cally now ac­com­pa­nied by self-right­eous Democrats who want some­one else to clean up the mess.

Jim Sorensen Al­len­town

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