Education and Student Debt
First, we must continue to fund programs that provide useful job experience and skills via trade schools and job training. Second, if college educated workers are of benefit to our economy, we must lower the post-graduation costs for these students. Federal loan programs should have capped interest rates, to limit burdens to students as they are beginning to enter the workforce. Government should not be in the for-profit business of student lending. Additionally we also need to limit the total available for borrowing for each student, to help control escalating college costs. Government willingness to extend uncapped lines of college loans to students is helping to drive up the cost of a degree as universities have a blank check to spend federal money.
If we as a society have determined that this program has value, then we should only be covering our administrative costs for the program, not seeking to take advantage of the next generation as indentured servants to the government. We need to do a better job of teaching students financial responsibility and limiting the increase of college costs funded by our tax dollars.