| Just like government sponsored enterprises (GSE's) made housing more expensive, they are making college tuition more expensive. Left out of the article are probably biggest recipients of the newfound largesse are University administrative employees whose employment "jumped 60 percent from 1993 to 2009, 10 times the growth rate for tenured faculty"[1] In my opinion they are not just overemployed but overpaid. Also left out are the billion dollar endowments that can generation over a billion in annual gains - all untaxed because the schools are "non-profits." It's strange that these points are left out. Also strange is the bias in the article, where Republicans are at fault for everything and it's just the poor old Democrats left standing up for students when the reality is that student loan debt took off under Obama [2] This is a serious, bipartisan issue. It's a classic case of special interests, wall street, and politicians colluding to rip off Americans. This article is biased and does a poor job identifying root causes for the crisis. Still, it's a subject worth discussing. [1] http://www.bloomberg.com/news/articles/2012-11-21/the-troubl... [2] http://static.cdn-seekingalpha.com/uploads/2014/10/15/127859... |
>Donald Trump... on Thursday criticized the federal government for earning a profit on the federal student loan program.
>“I’ll see so many young people and they work really hard for four years,” Trump told the newspaper. “They borrowed money. Their parents don’t have much. They work all together and they mortgage their future.”
>“That’s probably one of the only things the government shouldn’t make money off -- I think it’s terrible...” Trump said in an interview with The Hill.
Source: http://thehill.com/policy/finance/248913-trump-why-is-federa...