Student loans

Student loans is the latest potential bailout. Starting about 30 years ago the government began to actively offer financial aid to college students under the belief that poor people should have as much right to and education as the rich. Since that time tuition has increased at three times the rate of inflation. Colleges realized that if the government was going to provide aid that they could increase their tuition. The same thing happened to health care when Medicare was introduced in 1965. At that time they projected the cost in the year 1990 would be 12 billion and in inflation adjusted dollars it was 107 billion. I recall when Medicare was introduce there was a rush of doctors buying hospitals knowing that profits would follow.