Student loan debt

One of the big problems you hear about today is the "crushing" student loan debt that many people have today.  And, of course, everyone has their "solution" to the problem.

The student loan debt problem was created by

1. A myth that a college education is required to get a good paying job.  This myth was perpetuated by the Left (mostly in Hollywood by stereotyping non-college-grads as stupid working low paying, menial jobs).
2. A student loan program that allowed students to take out tens of thousands of dollars in loans to get a worthless degree.
3. Colleges raising their tuition in response to this easy-to-get student loan money.
4. Colleges turning from educational institutions to Left Wing indoctrination centers and producing people who are uneducated in their chosen field.

Simply put, the student loan system was created by the Left to funnel money into their institutions.

This is not a banking problem.  The banks are simply the intermediary for the money (since they had the infrastructure set up to give loans and take payments).  The Federal Gov't backed those loans, so the banks never used their money.  But they have to play by the rules that the Federal Gov't set for them.

Crazy Bernie Sanders wants free college education.  (Note that the only valid response to Crazy Bernie's ideas is to laugh - since they are the stupidest things ever said.)

Companies are tired of getting college grads who can't do their work and are no longer requiring college degrees.  New students don't want to be shackled with student loans and are seeking other education.  People are discovering that you don't need a college degree for many good jobs.

All this is adding up to colleges that are starting to fail financially.  And now you have the real reason why Crazy Bernie wants free college education.


So what to do about the ones who have "crushing" loans.  Nothing.  They messed up.  They paid way too much for a degree worth way too little.

When I went to college, I got a student loan.  But I also did a cost/benefit analysis of my degree.  My degree was worth more than the loan at the time.

If students did not do that and are taking it on faith that they will get a good paying job, then they were idiots and get what they earned: a poor lifestyle.

I should not have to pay for someone else's mistake.