Tuesday, November 30, 2010

The Madness that is the Student Loan Program

A young 23 year old woman, Kelli Space attended Northwestern University using government guaranteed student loans.  Now Kelli, who graduated with a degree in liberal arts, is faced with the insurmountable mountain of debt which, if paid on schedule will take over 20 years to retire.

Kelli has put up a website asking for people to donate to her in order to pay this debt.  Sort of cyber panhandling if you
ask me.  I feel sorry for her but there are millions of students falling into the same trap.  And trap is exactly what it is regardless of anything government or the universities might say.  Another example of unintended consequences of government becoming involved in the private lives of citizens.  

At the link below you can listen to the interview with Peter Schiff, which addresses the heart of the problem of government guaranteed student loans and why they serve to drive the cost of education higher and higher.  I really is madness and enslaves our youth into a lifetime of debt and the ensuing pain

There are several interviews and debates on the page the link takes you to.  Click on the one “Kelli Space interview” 

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