Why the feds should get out of the student loan business

As we move into the twenty-first century, the commodities we want to produce are becoming less “Smithian”. More education–and I do not think anyone in the U.S. is happy with the decisions twenty-year olds are currently making about how much education they should get and how to finance the debt incurred. Deciding to fund education via long-term loan-finance and to leave societal cost-benefit investment calculations in the hands of adolescents: not a good idea.

http://www.bradford-delong.com/2015/04/things-i-probably-will-have-time-to-say-rethinking-macro-policy-iii-conference-washington-dc-april-15-16.html

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