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Username: RockyTCB
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Latest Posts by RockyTCB:
The only thing more surprising about the Education Department’s proposed rule on college loans is that it took this long for common sense to prevail over the interests of Big College.
On Friday, the department issued a “notice of proposed rulemaking” that would, if implemented, block taxpayer-subsidized student loans for worthless degrees. To say that this is needed is a vast understatement.
As it stands, there is nearly $1.7 trillion in outstanding student loan debt, and “fewer than 40% of borrowers are in repayment, and nearly 25% of borrowers are in default,” notes The Federalist’s Breccan F. Thies.