America’s colleges and universities have long relied on taxpayer-backed loans for the survival of their business model. Unfortunately, this intrusion by the federal government has also driven the cost of a degree far above inflation, created an unprecedented generational debt problem and credentialing “treadmill,” and freed colleges to embark on a bloated administrative spending spree. Between this financial waste and universities’ repeated failures to uphold basic standards of free speech and intellectual diversity, it’s high time the American public reconsider whether its investments in higher education should continue.
