Student Loans Aren't Working
Reason magazine|May 2020
BUT FREE COLLEGE WON’T FIX THIS SLOW-MOVING CATASTROPHE
MIKE RIGGS
Student Loans Aren't Working

ON THE DAY he signed the Higher Education Act of 1965, President Lyndon B. Johnson declared that the law would “swing open a new door for the young people of America” and provide “a way to deeper personal fulfillment, greater personal productivity, and increased personal reward.” Johnson wanted Americans to know that his government would do whatever it could to help “every child born in these borders to receive all the education that he can take.”

Signed at Southwest Texas State College, Johnson’s alma mater, the Higher Education Act authorized federal scholarships and federally funded part-time jobs for students who could get into college but couldn’t pay for it. But the real catalyst for increasing college enrollment was a provision that allowed the government to directly lend students money for tuition and to guarantee loans made by other entities. This new lending authority, Johnson said at the signing ceremony, would allow the federal government to issue to “worthy, deserving, capable students” loans “free of interest and free of any payment schedule until after you graduate.”

The modern approach by which students finance higher education grew on and around these three policies—federal scholarships, federal work-study funding, and federally guaranteed loans—like vines around a trellis. Yet half a century later, many young Americans feel that Johnson’s signature education initiative has saddled them with excess debt and delayed their graduation into middle-class adulthood.

Denne historien er fra May 2020-utgaven av Reason magazine.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

Denne historien er fra May 2020-utgaven av Reason magazine.

Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.

FLERE HISTORIER FRA REASON MAGAZINESe alt
Gimme Shelter  - The U.S. confronts a growing homelessness problem. Does Miami have the answer?
Reason magazine

Gimme Shelter - The U.S. confronts a growing homelessness problem. Does Miami have the answer?

The U.S. confronts a growing homelessness problem. Does Miami have the answer?

time-read
10+ mins  |
July 2024
AI Is Coming for Hollywood's Jobs
Reason magazine

AI Is Coming for Hollywood's Jobs

But so is everyone else.

time-read
10+ mins  |
June 2024
AI Can Do Paperwork Doctors Hate
Reason magazine

AI Can Do Paperwork Doctors Hate

With help from AI, doctors can focus on patients.

time-read
4 mins  |
June 2024
Antitrust May Smother the Power of AI
Reason magazine

Antitrust May Smother the Power of AI

Left alone, AI could actually help small firms compete with tech giants.

time-read
3 mins  |
June 2024
A Brief, Biased History of the Culture Wars
Reason magazine

A Brief, Biased History of the Culture Wars

THE FIRST PAR AGR APH of the book jacket lays it out: “There is a common belief that we live in unprecedented times, that people are too sensitive today, that nobody objected to the actions of actors, comedians, and filmmakers in the past.

time-read
5 mins  |
July 2024
FAMILIES NEED A VIBE SHIFT
Reason magazine

FAMILIES NEED A VIBE SHIFT

THE AUTHORS OF FOUR NEW BOOKSWITH 24 KIDS BETWEEN THEM-SAY THE AMERICAN FAMILY NEEDS A COURSE CORRECTION.

time-read
10+ mins  |
July 2024
"The Past Is There To Teach Us What Can Happen'
Reason magazine

"The Past Is There To Teach Us What Can Happen'

Hardcore History's Dan Carlin on hero worship and moral assumptions in the study of the past

time-read
10+ mins  |
July 2024
Cutting Off Israel
Reason magazine

Cutting Off Israel

ENDING U.S. AID WOULD GIVE WASHINGTON LESS LEVERAGE IN THE MIDDLE EAST. THAT’S WHY IT’S WORTH DOING.

time-read
10+ mins  |
July 2024
WHAT CAUSED THE D.C.CRIME WAVE?
Reason magazine

WHAT CAUSED THE D.C.CRIME WAVE?

GOVERNMENT MISMANAGEMENT, NOT SENTENCING REFORM OR SPARSE SOCIAL SPENDING, DESERVES THE BLAME.

time-read
10+ mins  |
July 2024
States Turn Their Backs on Criminal Justice Reform
Reason magazine

States Turn Their Backs on Criminal Justice Reform

IT WAS IMPOSSIBLE to avoid the “strange bedfellows” cliché when reading about the criminal justice reform movement in the 2010s.

time-read
5 mins  |
July 2024