Feds Should Stop Pushing College Students into Ruinous Debt

, Spencer Irvine, Leave a comment

That sounds like a reasonable assertion, right? Why is the federal government pushing America’s future into ruinous student loan debt? This from George Leef:

Bad borrowing decisions are almost impossible to escape.

Consider the case of Liz Kelley, who is more than $410,000 in debt to the government for her student loans, as we learn in this New York Times piece by Kevin Carey. She first borrowed for her education degree at Maryville University, but when no teaching job opened up for her, she decided to go on for another degree in a shrinking field—law.

By continuing her education, Liz was able to put her loan payments on hold. She borrowed more for law school, but was able to complete only one year before dropping out for medical reasons. She’s had little work and can’t make any headway against her huge and steadily mounting debt balance.