This Is Like Turning the Thermostat Down After You Left All the Doors and Windows Open to Let All the Hot Air In July 26, 2007
Posted by Webmaster in Economics and Finance, Education, Welfare, Social Insurance and Transfer Payments.trackback
Washington - Tuition sticker shock – a fact of life for many families putting children through college – and recent scandals involving the student-loan industry are pushing Congress to address financial-aid programs after years of delay.
On Tuesday, the Senate voted 95-to-0 to boost the amount of federal aid that a low-income student can receive, create a simpler aid application, and eliminate some conflicts of interest for the student-loan industry. Four days earlier, it trimmed subsidies to the industry and used much of the money for grants to low-income and other college students.
Not long after the Democrats took control of both the House and the Senate, one of their first actions was to mandate a reduction in the interest rates on Federal student loans. That gave colleges and universities permission to raise tuition and fees, because students could afford to borrow a larger principal based on the lower interest rates. Now, some of the same politicians who helped create the “tuition sticker shock” are trying to cure it with increases in Federal grants.
Nothing is said about doing anything to question the higher education-industrial complex, or to do anything that would put the brakes on their forever-increasing tuition rates, because academia is the left’s playground.
Comments
Sorry comments are closed for this entry