Uncle Sam Is a Predatory Lender

Policy

Graduates attend commencement ceremonies at the University of California, Berkekely in 2015. (Noah Berger/Reuters)
There’s no good reason to keep saddling students with debt — and using them as a human slush fund for relatively wealthy Democratic constituencies.




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A
s Democrats prepare to run themselves into a cinder-block wall at 103 mph in the midterm elections, progressives are desperately trying to grab the wheel and swerve. Because our policy-making class consists mainly of people who lack the moral imagination to consider anything very far beyond their own immediate parochial interests, progressives are once again turning to that supposed national emergency: college loans.

The case for college-loan forgiveness is not economic; the median borrower spends less than 4 percent of his income on payments. It is purely political. The relatively well-off urban and suburban professionals who are responsible for a disproportionate …

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