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Discussion: (2 comments)

  1. SeattleSam

    Mr. Felder is simply emulating the behavior that our government models. If you’re using other people’s money or borrowing it, you don’t need to worry about the economic value of your expenditures.

  2. The Department of Education is supposed to be monitoring debt levels, tuition increases, default rates, etc., and should have been sounding the warning bells many years ago about unsustainable tuition growth, indebtedness, bad acting by schools and lenders, and a host of other factors that would have compelled Congress to reign in the loan limits, kick out the worst acting schools, oversee the lenders, and in general crack the whip on all the schools to provide high quality educations at low cost. This clearly did not happen.

    If bankruptcy protections had been in place, I suspect the Department of Education would have taken it’s responsibilities on this front far, far more seriously. Similarly, when bankruptcy protections are restored, the Dept will be fiscally motivated to begin to do it’s job.

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