STUDENT LOAN PROGRAM MUST BE REFORMED!

The college student loan program is welfare for institutions of higher education who feed at the money trough while piling huge amounts of debt onto the backs of teen agers who do not realize that it will take much of the rest of their lives to repay. Meanwhile, many of these young people do not obtain employment in their field or in any field worthy of their degree.

College tuition has exploded far beyond the level of inflation and there is little restraint on administrators to use sound judgment when money keeps pouring in from the student loan program. There must be a cap on the amount of tuition charged to students who pay with debt. Similar to health insurance. It matters not what the doctor charges the patient; if the bill is paid by insurance it is a fixed lower amount. The same concept should apply when a student pays with student loan money. For example, if a particular course costs $1000 for a semester and the fee is paid through the student loan program, the cost to the student would be $400. Then the college would have to bite the bullet and make ends meet.

No more free ride at the expense of the future of our students.