Student debt! It sounds terrible right? Poor students! A debt millstone round their necks. Well not, actually. For student debt read Taxpayer Debt because guess who gets to bail them out when they cannot pay, do not earn enough if anything at all to fall into the decile of paying it all back? So the greatest propaganda coup goes to the left for successfully convincing the public that it is the students who are footing this humungulus bill although of course that is true in the end albeit not as the left describes it because parents are taxpayers and they are going to be carrying the can for this soley governement created debacle.It is just that some of those taxpayers will not even have had teenagers going to university but will be having to be part of this ongoing bailout.
The solution? Student loans have to and should be placed in their right and proper domain and sphere namely private, ie the banks whose job it is to issue loans at the going rate so that the contract is between them and the students rather the nation as a whole who should not have to take on the unwarranted and unjustified risk - and risk it is - implicit in student further education. This will have the added advantage of concentrating young minds on what exactly they are going to university for and what sort of courses they should opt for in the light of future career rather than contracting out that moral hazzard to the hapless general public who have a right to their own lives and should not have to take on the burden of other people's childrens choices which at present seem to be ill conceived, arbitrary,subjective and frankly in many cases mindless and delinquent which explains the high drop out rate and the trail of havoc emotional and collateral wrought by abandoned studies.
Further to this students will gain autonomy as they will be more demanding of their lecturers who will in turn be kept on their toes by the pressure of having of actually to deliver quality and innovative challenging courses rather than coasting on a calm sea of complacency in the full knowledge that the captive taxpayers are footing the bill and they can run a quasi sinecure at their expense.In order for this to fully work of course the universities should be privatised and this is what the educational establishment is terrified by and is the reason it is presently agitated alarmed excercised and so up in arms by the government's latest proposals to even allow the setting up of some more private universities. Standards will fall! Really, standards?! For this read, our sclerotic stranglehold on the profession,our closed shop cosy monopoly of higher learning will be challenged and overturned and with it of course their greatest - and justified - fear of all and the one they dare not mention, their baleful suffocating intellectual stranglehold on the culture will be undone and the true spirit of enquiry will reign which means their centuries long leftist hegemony over higher education will be smashed.