The Government Takeover of Student Loans
March 23, 2010 by Guest Author
Filed under Student Loan Information
The government does not have a good track record when it comes to doing business. While a case can be made that it does a good job of protecting our security, it is hard to make a case that they run our country with good fiscal policy. The only way the government survives its mistakes is by printing more money and taxing its citizens.
For many years the post office was the one agency that was run well and did do a good job. In recent years though, stamp prices have had to be continually raised to pay for the inadequate management and lack of good business practices. The declining performance of the United States post office has allowed private competitors such as Fed Ex and UPS to step in and take away market share.
With a record that is so poor in executing any kind of business, is there any reason why we should let the government take over the college loans industry in our country. President Obama has put up a bill that will be addressed sometime in 2010 that would remove all student loans from the private sector and make the US government the issuer of such loans. This looks like another case of the politicians thinking they know more than the rest of us.
Besides the obvious question of why we should let this happen is another question about whether we want suits in Washington deciding which of our kids get loans and which ones don’t. Those students who don’t get loans are probably not going to be able to attend college and it is none of the governments business of who goes and who doesn’t. Our government is there to protect us and not to be our mother and father.
As American citizens, we need to be very careful to protect our freedoms and not let them be eroded from us. If we are to not stand up for our rights, there will come a day when we look back and wonder how we got to the point where the government controls everything. Student loans need to remain in the private sector where they have a better chance of being administered fairly and were the government does not have total control over them.
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