D.C. Drove Up Your Student Debt

Neal McCluskey and Vance Fried:

One of the major complaints of the Occupy Wall Street crowd, many of whom have taken on significant student debt, is that the cost of college is too darn high. And they're right, but not because of greedy corporate fat cats. No, the real guilty party here is federal politicians, who for decades have been fueling high profits -- and prices -- at both for-profit and nonprofit schools.

Wait. Big profits at nonprofit colleges? Yes, money has been piling up even at schools you thought had no interest in profit. And Washington, D.C., is the biggest hand feeding the beast.

Thanks to recent congressional hearings and battling over new regulations for for-profit schools, most people -- including many college-aged, profit-disdaining Wall Street squatters -- are probably at least vaguely aware that for-profit colleges are making good money.

Posted by Jim Zellmer at October 11, 2011 1:17 AM
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