OBAMA STUDENT GOVERNMENT LOANS PLAN REVISITED
I wrote a quick post here about Obama government student loans explaining how President Obama is proposing to take the private sector out of the student loan business. His stated thinking is that private companies are charging too high an interest rate and the government can give out those loans for less. On the surface that sounds great but is it really what it seems?
Going to college has become problematic for many as they have to find a way to pay for it and it seems the price keeps going up. Many students can’t afford to go to college and many others end up graduating with a heap of debt before they ever get their first job. Everyone agrees that the high price of college is a bad thing and it is a problem but what do we do about it? How can we make it affordable so that more students can afford to go without ending up in debt up to their eyeballs?
President Obama thinks the government is the answer to that problem as well as to any and all problems. If you buy into his stated belief that the government can be more efficient in creating lower interest loans than companies in the private sector, you have to take your thinking a step further. What he is really proposing is that the United States government become responsible for deciding who goes to college. Back to school grants and everything else related to student loans will be decided by someone in Washington.
The free market doesn’t always work perfectly but it is the best thing we have and it has worked to keep America the strongest and richest country in the world for over 230 years. What he is proposing with his Obama student government loans plan is that the government is better suited to give out loans than the free market and capitalism.
If his government student loans plan goes through, politicians, bureaucrats and state agencies will be the ones deciding who and who it gives loans to. What this means is that THE GOVERNMENT WILL BE DECIDING WHO GETS TO GO TO COLLEGE! Is that what you want? Do you love and trust the government that much? If your child gets turned down for a student loan you will have no where else to turn. Bureaucrats will be deciding which minorities get in and which ones don’t. It is a total take over and another piece closer to a slave state run by the government.
