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How To Fix The Student Loan System

How To Fix The Student Loan System

Once the reorientation of the Department of Education has been achieved, and Congress has the full story about the schools, their default rates, etc., Congress and ED should dramatically revise the lending limits to more accurately reflect the value of the education being received. This is a power that the Department of]Educationshould have used long ago, but chose not to. They should also kick out the worst of the bad schools (I suspect that at least 25% of the for-profits would be shuttered, and probably more than a few of the non-profits as well). There are surely other actions the Department will decide to take to ensure the schools are delivering a high-quality education at a low cost, but these are the two most obvious.

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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.