As you might have guessed, I do not believe in the necessity of student loans. To me, it’s blatantly obvious that government funding and/or subsidies of college costs ONLY serve to increase the cost of college.
It just came to my attention (and infuriation) that Congress and federal agencies provide a perk to staffers – repaying their employees college loans. In 2009, as much as $60 million was anticipated to have been paid on behalf of government employees.
This program has been in place for many years. It was implemented under the guise of needing to provide a benefit for those choosing public service since they would be compensated less than their peers in the private sector. However, with the national unemployment rate now standing at 9.5%, according to the United States Department of Labor, and at the highest level ever recorded in 30 years for college students, do we (you and me, the citizens and taxpayers of the United States) really need to offer this $60 million perk to federal employees?