Regarding the May 10 editorial “Cap, gown, debt”: If, as you say, the difference between the lifetime wages of college and high school students is $1 million, it would seem that it would be quite easy to repay an average of $35,001 of student debt over one’s lifetime. Yet you propose relaxed bankruptcy standards to allow people to avoid paying their debts.
Whatever happened to taking responsibility for one’s actions? You also advocate making the interest rate on student loans free or very low interest. Do you also recommend making mortgage and credit card loans zero percent?
Doing this will effectively create a third-party payer system for college education where the one paying most of the bill (the U.S. taxpayer) is not even involved in the negotiation.
I have no doubt that once these students become voters, there will be a push by progressives to get their votes. As such, they will propose a bailout of student loans. If this succeeds, college education will then become a birthright, provided free of charge to everyone. That is when education will really become expensive!
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