AUSTRIAN ECONOMICS ADDICT

In this video from Prager University, George Will covers truths that most commencement speakers would never consider uttering.

Here are some excerpts from the video.

“….Your tuition has been much too costly, for which you can blame the Federal Government and the avarice of the University. Washington has produced a bubble in higher education just like it produced a bubble in housing. Some Government planners decided that too few people owned homes. So the planners decided to force an increase in home ownership. They lowered lending standards for people seeking a mortgage. This produced a glut of sub-prime loans and sub-prime borrowers, and then a crash.”

“Next some Government genius decided that there were too few college students. So Government made student loans and other tuition subsidies easier to get. Of course colleges and universities responded by increasing tuition to capture these Government subsidies. Which is why the cost of college has been rising four times faster than the rate of inflation…..There is now over a trillion dollars of student loan debt….Most of you are graduating today with debt. In effect you are graduation with a mortgage but no house. And what did you get for all this expense? A sub-prime education.”

This video is really good watch the whole thing.

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Related Article – Follow Up To Student Debt Post. Government Creates The Problem, It Isn’t The Solution, at austrianaddict.com.

This entry was posted on June 11, 2015 at 10:41 pm and is filed under Government and Politics. You can subscribe via RSS 2.0 feed to this post's comments.

Tags: Commencement Speech, George Will, Prager University, Student Loan Debt, Sub-Prime Education