WSJ: "Supporters of ready access to loans say lenders shouldn’t get to pick who gets an education. Critics say we end up hurting the students we are trying to help."
http://www.wsj.com/articles/should-anyone-be-eligible-for-student-loans-1456715824
This is a tough one. We saw what happened when banks started giving mortgages to anyone with a pulse, which is roughly the same standard as many education loans. It's hard to imagine that taxpayers are going to emerge unscathed from the current education debt crisis.
But, with the cost of college these days, lots of people would be frozen out of college completely without easy-to-get loans.
Colleges differ in results. Majors differ, too. But trying to pick winners and losers is tough, too. A CMU CompSci major is a good bet, but who can tell if the small LAC art history major will end up as a CEO or a barista?
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