The Trump administration is still trying to break apart the bloated Department of Education piece by piece, now by offloading parts of student-loan management to the Treasury Department. It would have been even better if student loans were totally privatized and left to an independent entity, but this is a step in the right direction, as I said yesterday on The Big Money Show on Fox Business:
Then, we had a friendly debate about how we got into this mess with the so-called student loan crisis, which I attributed partially to employers making a college degree a prerequisite as well as well-intentioned older generations framing a degree as the key to financial success. Of course, statistically, kids with degrees make more money post-grad than their degree-less counterparts. But what also happened was that lot of young adults who might not have had the aptitude for or interest in college got saddled with debt after pursuing disciplines with questionable industrial value. There should have been more encouragement for students to go into trades, vocations, or entrepreneurship back then. Especially now that the average liberal arts school has forsaken humanities for Marxist-coded grievance majors.