Trillion dollar giveaway looms

The drumbeat to forgive student loans grows apace. Each new article must have a sympathetic case study or two to tug at our heartstrings. Consider this, from Bloomberg News, a story picked up by newspapers across the land. The poster child this time is one Linda Brice, a schoolteacher, single mom and woman of color (the article says nothing about her race, but the pictures make it clear). Brice borrowed $3,100 in the 1970s to attain a degree in psychology. She felt she did not need to repay the money because she was giving back to her community: "If you are a person who gave to your country, who does the kind of work I do, or is a police officer or firefighter -- anyone who gives back to their community -- I think the government needs to give you a break," Brice said. I can relate to her case, in a way. I too earned a degree in the 70s, an unmarketable degree in the humanities. I graduated with $1750 in student loans. My payments were $35 per month, a lot of money then, especially...(Read Full Post)