Education and training are critical for making young people productive, but excessive student debt underwritten by governments have most of all provided massive subsidies to enrich lenders, schools and their administrators. In the end, debt-crippled young people make for poor consumers and savers.
We, the economy and taxpayers, will continue to pay the cost of a highly inefficient, cost-bloated education system. More efficient education delivery is essential to sustainability. More corporations and employers must also reclaim their historic investment role in helping to train and educate their workers.
CNBC’s Scott Cohn reports on the Trump administration looking for ways to fix the student loan debt crisis. Here is a direct video link.
New rules could be in the works for student loan debt from CNBC.
