Student loan costs should not shut the door to higher education

Tim Goral's picture

Congress and the president are jousting once again over the cost of college loans, a perennial dilemma that faces a July 1 deadline to avoid a doubling of federally subsidized interest rates that would discourage thousands of potential students from seeking a college diploma.

Everyone seems to be in agreement that something has to be done to keep college loans low and affordable. Given that student debt amounts to more than $1 trillion, which some fear could trigger an eventual economic crisis, the focus should be on keeping costs down and making them predictable. But that will require the sort of political compromise that is increasingly rare in Washington these days.

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