Roll Call: Latest News on Capitol Hill, Congress, Politics and Elections
November 26, 2014

Student Loans Are Plundering a Generation

Matt Taibbi directs his fierce criticism at higher education and the recent explosion of student debt.

“No doubt, seeing rates double permanently would genuinely have sucked for many students, so it was nice to avoid that. And yes, it was theoretically beneficial when Obama took banks and middlemen out of the federal student-loan game. But the dirty secret of American higher education is that student-loan interest rates are almost irrelevant. It’s not the cost of the loan that’s the problem, it’s the principal.”

“How is this happening? It’s complicated. But throw off the mystery and what you’ll uncover is a shameful and oppressive outrage that for years now has been systematically perpetrated against a generation of young adults.”

  • http://satp.blogspot.com/ JoshSN

    I was watching some I the Western Conservative Summit today on C-SPAN.

    They have a solution for higher education… teaching the morality of Christianity, lhiring more conservative Professors, and cutting the Department of Education were the main ideas I heard.

    They did mention student debt, but, if no solution was presented.

  • flickadave

    I have no compassion for those that spent 4 years wasting their parent’s money on a useless liberal arts degree so that they could avoid going to work in the real world. I have slightly more for those that took loans out to get that same degree. People need to realize that not everyone needs a college degree. Until they do, our colleges and universities will continue to part the fools from their money.

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