President Biden on Wednesday lamented hovering school prices to justify his sweeping scholar mortgage cancellation. College students, he feels your ache. But he fails to acknowledge that the basis causes of excessive prices are federal-loan and student-aid subsidies.
Like different Nice Society applications, federal scholar loans and grants have been initially geared toward serving to low-income Individuals. They’ve since develop into one other all-you-can-eat entitlement. Its prices develop on autopilot as lawmakers enhance subsidies within the title of constructing greater training extra inexpensive, however in actuality doing the other.
