Higher education’s house is on fire

Stefanie Botelho's picture

The expression, “The road to ruin is paved with good intentions,” should appear above the front door of every government building, so as to remind the people who work inside that their ideas for solving social problems are likely to worsen them, and create new ones.

President Obama recently made changes to the student loan repayment plan, capping the amount a debtor can pay in one year at 10 percent of annual income, rather than 15. There is nothing to criticize about the new regulation itself, and anything that helps ease the burden of debt for young people struggling to build lives is laudable, but it is merely a slight improvement of a dangerously broken system.

President Obama is fixing the broken windows, while the house burns down.

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