Article originally appeared on amgreatness.com.
This column has written many times, in vain, about student loans, beginning here on May 8, 2014, with “Hey, Hey, Ho, Ho, Student Debt Has Got to Go!” but Republicans have yet to pull the fast one on the Democrats that was recommended in the columns.
However good an idea student loans may have been in the beginning, they have become a scam. That was probably inevitable: Washington produces scams the way cows produce manure—though we must pause to note that cow manure can be far more beneficial than Washington legislation.
Student loans were a two-step scam: first, the government proposed cheap loans (yea!); then, when students, having learned nothing useful in college, were suffering under mind-boggling debt, the government proposed to forgive the loans (yea!). “Yea!” unless you’re a taxpayer, and perhaps one who didn’t go to college or who did …
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