Subsidized Student Loans Make College More Affordable
Making the case for keeping government subsidized student loan interest rates at 3.4 percent for another year, President Obama told students at University of North Carolina Tuesday, “We have to make college more affordable for our young people. That is the bottom line.”
But do federal loan subsidies make college more affordable? President Ronald Reagan’s Education Secretary Bill Bennett didn’t think so. Back in 1987 he wrote in The New York Times, “If anything, increases in financial aid in recent years have enabled colleges and universities blithely to raise their tuitions, confident that Federal loan subsidies would help cushion the … Continue Reading