The government was a significant source of the student loan crisis. Federal backed education loans and grants represent extremely low risk to lenders no matter how lacking the recipient is in qualifications. Easy student loan availability increases demand for public and private college enrollment justifying colleges and universities to increase tuition and boarding costs. Easy student loans entice students to attend more prestigious private colleges in lieu of private colleges. The student assumes a degree from a prestigious college will be more marketable with potential employers.

In my opinion it is not fair to forgive (pay off) student loans with taxes paid by those who chose less expensive education options (with no loans) or by those who could not afford to go to college. It is also not fair to expect retirees on fixed incomes (with increasing medical costs) to pay off the education loans of students who made financially irresponsible decisions following the example of the federal government’s deficit spending.

I’ve stated before that debt is a form of economic slavery. Until a debt is paid there are restrictions on normal liberties. I propose that federal backed education loans be forgiven via federal government service (either civilian or military). I advocate that the federal government get out of the student loan “business”. Federal meddling in education creates more problems than it eliminates.