Friday, June 28, 2013

Glenn Harlan Reynolds: What's Really 'Immoral' About Student Loans - WSJ.com op-ed

Glenn Harlan Reynolds: What's Really 'Immoral' About Student Loans - WSJ.com

    By 
  • GLENN HARLAN REYNOLDS
Unless Congress acts, interest rates for government subsidized student loans will double to 6.8% from 3.4% on July 1. In May, House Republicans passed a bill that would index rates on new loans to the rate on 10-year Treasurys (currently about 2.6%), plus 2.5 percentage points, with an 8.5% cap. But with little Democratic support in the Senate, that bill is dead in the water.
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If we want to solve the very real problem of excessive student-loan debt, college costs need to be brought under control. A 2010 study by the Goldwater Institute identified "administrative bloat" as a leading reason for higher costs. The study found that many American universities now have more salaried administrators than teaching faculty.
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