Ronald Reagan said, “The nine most terrifying words in the English language are, “I’m from the Government and I’m here to help“. No words are truer when you consider student loan debt. What is portrayed as benevolent Government providing student loans to make college affordable, is a scam. The cost of college has risen because of all the money the government has provided. Government is stimulating the demand for college through easy to get college loans. And as we all know prices go up when too much money is chasing too few goods. The reality is these students become debt serfs to the government for years after they graduate.
This video titled, Game Of Loans, from Prager University, explains how Government has lined the pockets of colleges at the expense of students aka debt serfs.
Here is an excerpt from the video. “It’s because of politicians who promise college students more and more aid, in league with the colleges, that college tuition became more expensive in the first place.”
Related Article – Young People Get Hooked Into Hugh Debt When They Take The Student Loan Bait, at austrianaddict.com.
Related Article – Follow Up To Student Debt Post: Government Creates The Problem, It Isn’t The Solution, at austrianaddict.com.
AUSTRIAN ECONOMICS ADDICT 