Student Bailout

by Justin Horwath

In light of the government’s latest multibillion dollar bailout of financial giant Citigroup, the editorial board proposes another group in need of massive amounts of taxpayer money: college students.Although not a large bank, industry or corporation, college students have been under stress from exponentially rising tuition rates and a target of the predatory loan industry that has flourished for the past eight years. The Project on Student Debt just found in its annual report that the graduating class of 2007, nationally, has taken on roughly $20,000 in debt. That’s about $1,000 more than the class of 2006. Treasury Secretary Henry Paulson recently proposed to bailout the student loan industry. Seems like twisted logic to us. Why not just give the money directly to college students or recent graduates? If nothing else, it could prove to be an upward stimulus for the liquor industry.