Saturday, September 15, 2007

Paying the Piper

"Student loans are the clearest example of the common Republican confusion between free-market capitalism and business. Capitalism is an economic system that is held, with some justification, to be the best guarantor of prosperity. Business can be capitalism in action, or it can be something entirely different. There is very little about the student loan program that has anything to do with free-market capitalism. Yet whenever the student loan system comes under criticism, lobbyists, 'industry' leaders and supportive politicians haul out the same old cliches as if they were defending Adam Smith's famous pin factory itself."

Michael Kinsley in the Los Angeles Times explains how lenders exploit college students.

And Kim Clark in U.S. News & World Report recommends housing co-ops for students who wish to save money.

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