Stupid people are a threat to national security so it is in our best interest to encourage education and make sure that those that want a college education can receive one.
Sallie Mae was supposed to help people get low interest loans for college. The Republican-controlled 104th United States Congress privatized Sallie Mae. Sallie Mae became a corporation, “went rogue,” and started getting into the business of making unfair and deceptive loans to kids and their parents. Banks and loan companies also saw opportunities to easily double and triple their investments so they deviously started marketing student loans as something a “real American” did along with buying a house and leasing a car and apple pie.
Universities, particularly private universities, saw opportunities to enrich themselves and compete with prestigious Ivy League schools so they increased their fees because uninformed kids were getting easy money. Because many Republicans did whatever they could to funnel taxpayer dollars to their corporate buddies who made trillions of dollars in war profits, bad loans, and deceptive financial deals, state schools saw their education budgets diminished which also forced them to increase fees to stay relevant.
I agree that many universities – predominantly private universities – suppressed information, and failed to disclose that some of them were taking out loans that required them to pay $500 or more a month; that many loans triple with interest; that a student cannot wipe out their debt even with a bankruptcy; that payments can be garnished and so on, but again, that goes back to my observations that Republicans intentionally set up a system to enrich corporations and that uneducated people are a threat to our country.
It is a fable to suggest that everyone is getting history and art degrees. The notion that everyone who is unemployed or underemployed has a useless education is just a myth perpetrated by capitalist extremists on behalf of big business and corporations that want to deflect responsibility for our economic problems so it is in their interest to maintain the illusion that students are hopelessly undereducated and that the reason they can’t hire Americans is because workers are unskilled and untrained.
Had Republicans never privatized Sallie Mae and ensured that people had the same bankruptcy protection as other unsecured debt, banks would have considered the risk, tuition would not be as high, and we would not be worried about a trillion dollar student loan debt.