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Saturday, December 6, 2014

Speaking of colleges ...

They are in debt and barely viable, despite the income stream from $100 billion in guaranteed student loan funds per year. "Guaranteed" means a government-chartered company known as Sallie Mae, which will never be allowed to go bankrupt promises to buy those loans which meet its generous criteria.

Post-secondary education is one of the clearer examples of government good intentions paving the road to hell, and the distortions are obvious and legion: completely unmarketable and academically shoddy Grievance-Studies and other programs; tenured, Marxist bureaucrats; minor league for the NFL; duplicative and unnecessary science, such as professors of Polar and Marine Biology in, of all places, the University of Alabama at Birmingham; tuition rising to the clouds, even as the job market shrinks. I could devote a whole separate blog to this, with an entry each day.

Why does government have any involvement at all in the post-secondary aspirations of legal adults? If an adult wants education past high school then he or she can pay for it, or the parents, spouse, friends or investors can pay for it. And where they live and what they do on the weekends will be up to them instead of loading the taxpayers with yet another hothouse flower who must be constantly fretted over and sheltered from any adverse outcome.

The whole corrupt structure is a ridiculous middle and upper class subsidy that should be ended tomorrow. In one month, we’d be wondering why we didn’t pull the plug 50 years ago.

8 comments:

Kakistocracy said...

Excellent post, though one note. Sallie May, which began life as the government-chartered Student Loan Marketing Association, is fully private since 04.

Anonymous said...

One would think the example of a successful country like Germany would illustrate the idiocy of this post. The libertarian impulse is the surest path to third world status bar none.

Anonymous said...

...bar inviting the Third World en masse to colonize the entire country, lol. Germany has a relatively modest percentage of Turks (bothersome), but fortunately not the Young Turks.

Anonymous said...

Ripping away the teat after secondary school is way too late. The whole point of mandatory schooling à la Bismarck was to groom willing dolts for tax and war.

Psykonomist said...

Socialist countries usually look "successful" until the bills come due.

The Anti-Gnostic said...

The libertarian impulse is the surest path to third world status bar none.

Gee, all the Americans who never had student loans or Pell grants while they were building one of the greatest countries in history really missed out.

Germany has a relatively modest percentage of Turks (bothersome), but fortunately not the Young Turks.

Give them about 30 more years.

lannes said...

Do you think the GI Bill after World War II also was a bad idea?

The Anti-Gnostic said...

You have to do something to mollify returning soldiers. In retrospect, it might have been better to give them land. In conquered Europe and the Pacific.