One response to “How Wall Street Skims Higher Education”
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Look, I don’t want to be a contrarian jerk, but the economics in these 2 minutes is below a freshman level course. The “skim” they are talking about is the interest on student debt. The rate that students pay on this interest is subsidized and therefore MUCH lower than consumer debt. As a country, we value higher education. We show this by subsidizing the interest rates on student loans.
There is nothing nefarious about student loans. There is nothing inherently bad about students taking out loans to pay for college. The language games used by some to make all of this sound like a bad thing sound enlightening prima facie, but turn out to be ideological ruses.
If we care about higher education costs, we should focus on rising tuition/fee rates and not student loans.LikeLike
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