After the federal government had successfully ruined the grade school and high schools, they decided they must also ruin the colleges. Again they used the same tactics to gain control and that was money. Washington decided they must take over a student loan program the private sector had instituted. Of course, Washington insisted on all kinds of regulations and control so they could do their politically correct social engineering.
Obama has put together a new Executive Order that will again micro manage. We are told a part of this executive order will be to modify the repayment of the loans. What we know is this student loan fiasco will have far reaching consequences. It has allowed the cost of tuition and other educational costs to soar. The educational institutions have been able to inflate costs knowing the students can borrow with virtually no limitations. Those who are hurt in this fiasco are again the very people it was supposed to help.
Student debt now totals in excess of a trillion dollars. It is the fastest growing debt. Many of these people are graduating and not able to find work in their area of study or any meaningful work at all. The debt they accumulated is strangling them. They are unable to buy homes, cars and many times cannot even afford rent so they live with their parents. The effect on the individual is negative and the effect on the nation and the national economy is negative.
Once again, what was done with supposedly good intentions has become an albatross for the individual and the nation. The government is incapable of doing anything the private sector, the states and mostly the individual should be doing. There is no program that is better once the federal government assumes control. Any program the federal government assumes becomes more costly, more inefficient and more political. The discussion should not be how does the federal government make the student loan program better, because it cannot, but how does the federal government divest itself from the program as quickly as possible.
This is the only discussion that Washington should have in all programs except those it was specifically mandated to run such as the military. The first departments that should be dismantled would be the EPA, Education and Health and Human Resources and all aspects of those programs including Obamacare.