Government should stop making student loans

Paul F. deLespinasse

Paul deLespinasse

President Joe Biden is pondering whether to forgive unmanageable debts owed to the government by students who used them to finance higher education.

It is unclear what Biden should do about these past loans. But it is obvious what needs to be done about the future: the government should discontinue making additional student loans.

Although these loans helped some people, they have greatly damaged many others. They encouraged recipients to dig themselves into financial holes. These unfortunates cannot buy houses or do many other things traditionally done by young adults.

As the saying goes, when people are digging themselves into holes, first they should stop digging.

The loan programs were well-meant, but in addition to harming many of their “beneficiaries” they have caused an incredible increase in the cost of higher education.

Show some Love^^