Stephen Moore points out, ‘there is no free lunch, and there is no free college’
The Biden administration has misdiagnosed the fundamental problem here. To wit: Colleges and universities have become fat, flabby and inefficient money burners with no accountability. No oversight. No getting rid of bad teachers and professors. No looking under the hood to see where extraneous costs could be axed. No demand on tenured professors to teach one or two classes a year.
If student-loan debt has to be retired, why should taxpayers pick up the tab? Why not force universities with massive endowments, in many cases in the tens of billions of dollars, to use that money to pay off the debts students incurred while they received virtually worthless, useless sociology, gender studies and psychology degrees?
This would incentivize schools to cut their tuitions and their costs, something the academic elites are desperately trying to avoid.