Blame Uncle Sam for Sally's loan debt
To the Editor:
Jesse Snyder's March 17 column, "Why Sally can't buy a new car," was full of facts but did not get to the root cause.
Higher education costs, like medical costs, are out of control. I speak from experience, having sent seven kids through college.
The root cause: the federal government getting in the student loan business.
As soon as cheap money was available, colleges started raising prices, since Uncle Sam could be used to fool students into cheap financial-aid packages -- not to mention the scam of using student loans for living expenses rather than limiting them to purely educational expenses -- tuition.
With cheap money available, what incentive did colleges have to keep costs down? (Why does it cost $10,000 to feed and house a student for 30 weeks with mass-produced, institutionalized food and crammed dorms? I did that much more cheaply in my own house.)
Every time the government tries to help, it turns out in the long run to hurt everyone and keep us poorer and trapped, as the column suggests.
Finally, I think it's irresponsible to waive student loan debt. You borrowed the money; you pay it back.
The writer works for an automaker.