Alan Wallach

The Student Loan Travesty

I just read an article about the burden of student loans. It’s a system that is as bad as our lack of health care was before Obamacare.  The government has a moral and economic obligation to provide affordable  or free higher education to those who want and deserve it.  I paid nothing for college and went to graduate school on the GI bill.  Those days have been replaced by a bonanza for banks in the form of student loans.  In the article, the borrower extols the virtues of defaulting to eliminate the crushing debt which essentially destroys his freedom of choice.  He makes a lot of sense.  Our rugged individualism today means being born to wealth so you don’t need help.