The Reality Jubilee
24th August 2022
ZMan jerks back the curtain.
The Biden administration is gearing up to offer some sort of college debt jubilee as their answer to the student debt crisis. The details of the scheme are being leaked to generate interest in the forthcoming announcement. The idea is to use printed money to buy votes from the millions holding student debt. Coincidentally, this comes just as the regime begins the fall campaign. Currently there is $1.6 trillion in outstanding college debt, most held by the Federal government.
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The madness of college financial aid is obvious when you look at the rise in tuition costs over the last thirty years. They have grown at multiples of the official inflation rate and that is excluding hidden fees. There was a time when a student could work his way through college. It was a struggle, but it was possible. Today, the cost of tuition alone dwarfs what a student can make working fulltime. In other words, in the effort to make college affordable, it was made increasingly unaffordable.