Phi Beta Cons

The New Report on Private Student Loans

The Department of Education has just released a report that blames private lenders for the woes that many students are facing. Neal McCluskey of the Cato Institute writes here that it’s ironic, since the 800-pound gorilla that the report ignores is the enormous federal student-lending program.

Neal observes the similarity between the housing bubble and the mounting troubles with student loans — the federal government was at the root of the problem, but attempts to divert blame by scolding the private sector.

George Leef is the the director of editorial content at the James G. Martin Center for Academic Renewal.

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