Student Loans

The government's recent takeover of student loans has been overshadowed by the rest of the health-insurance bill of which it was a part. On the one hand, Obama is right that the current system amounted to an absurd giveaway to banks. On the other hand, Obama's claim that this new legislation will somehow reduce the cost of college is absurd. Perhaps I've said it before, but when he makes claims like this, I find myself trying to decide if he really believes it or if he is lying as a means to an end. I'm tending toward the latter conclusion.

This post at The Corner sums up the situation well. Not surprising is that it was written by a guy at CATO.

I saw in a blog comment somewhere that people with student loans who work for the government will have their loans waived after 10 years. I am not sure if that made it to the final law. If so, I find it pretty disgusting. We seem more and more to have two classes of citizens.