Another Federal Budget Buster: Student Loan Forgiveness Costs $14 Billion/Yr.—Helps Harvard Grads The Most

Contra Corner reports:

Existing student loan repayment programs may be four times more costly than they need to be, say Beth Akers and Matthew Chingos, fellows at the Brookings Institution’s Brown Center on Education Policy.

Federal loan borrowers can use income-based repayment programs, meaning that their monthly loan payments are not set at a fixed amount, rather they depend on their earnings.

Rent-seeking gone wild.