A New York Times editorial published today assumes that it's taxpayers' responsibility to help "7.4 million students who now have federally subsidized Stafford loans and the millions more who will need them." President Obama and Mitt Romney agree. Both want to bribe students and their parents for votes, and sent the bill to you.
Why? Only 30 percent of Americans have a college degree. People with degrees are relatively elite. Government shouldn't force the remaining 70 percent to subsidize them.
Many students took on too much debt, but stealing more money from the public is not the solution. Allowing colleges to compete for students is. Universities will lower tuition if students make decisions based on price.