Political Quotes

“What is driving the increased costs of tuition? Well, most of that is because the bureaucratization of academia. That drives costs higher every year. Let's go back to that 2017 study from the Federal Reserve Bank of New York. The average tuition increase associated with expansion of student loans is 60 cents for every dollar. So when your tuition is going up a buck, 60 cents of it is because of expansion of student loan programs. The Biden administration's efforts to eliminate student loan debt is wrong--wrong because they force everyday Americans to pay for the student loans taken out by others and wrong because they doubled down on a failed public policy that incentivizes price increases. You incentivize tuition to go up. Why would a university ever reduce its tuition or its costs? They know that they have the Federal Government to backstop every student who wants to go in. The way to curb the rise in both college tuition and student debt is to get the Federal Government out of the student loan business. The result will bring about more fiscally responsible citizens and a more fiscally responsible Federal Government. This would make the loan market more responsible and cause colleges to rein in their costs and reduce tuition so fewer students would need Pell grants or private aid. Private lending would also limit taxpayers' exposure to billions of dollars in student loan defaults. Did I say billions? I meant to say trillions because that is where we sit.…”