(Investor’s Business Daily) The federal student loan program was supposed to make money. Instead it will cost tens of billions of dollars, forcing hardworking Americans to subsidize college-educated deadbeats. Who do we have to thank for that?
A report from the Department of Education notes that the net cost of the federal government’s direct loan program is quickly heading into the red. This program, mind you, was supposed to be a moneymaker for the government, as students paid back federal loans with interest.