Since I started covering student loan debt in 2004, one fact has been abundantly clear: Giving away taxpayer money to banks so they can make student loans is bad policy.

Not only does it cost billions of dollars, not only is it unnecessary, but I argue in my new book that the Federal Family Education Loan Program has had some severe unintended consequences, driving up the cost of college and leading to policies that victimized thousands of students.

The rest at Huffington Post.

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