The Insanity of Student Loans: How Government Meddling and College Greed Rip Off America’s Youth

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This isn’t free-market capitalism; it’s cronyism at its worst, where taxpayers subsidize inflated educations that often lead nowhere. Conservatives have long argued that the so-called “crisis” is overstated and largely self-inflicted. Headlines scream about a $1.7 trillion disaster, but digging deeper shows that much of the debt stems from poor choices—like pursuing degrees in low-demand fields that don’t justify the cost. As one analysis put it, “The Student Debt ‘Crisis’ Doesn’t Actually Exist”—it’s more a narrative pushed by those seeking bailouts than a genuine economic catastrophe.

Herkie’s story illustrates this: over 17 years, her average monthly payment was around $180, far below what was needed to cover interest on a standard amortized loan. Replies to the X post pointed out that paying only the minimum—often just interest—allows the principal to grow unchecked, turning loans into perpetual money pits. Yet, the system encourages this with income-driven repayment plans that forgive balances after decades, shifting the cost to taxpayers. The real rip-off comes from how federal policies distort the market. Without government backing, lenders would assess risk properly, denying loans for overpriced or impractical programs. Instead, we’ve created a bubble where colleges charge 5-6 times the rate of inflation, knowing Uncle Sam will foot the bill.

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Proposals like Bernie Sanders’ blanket forgiveness or Biden’s repeated bailout attempts only worsen the problem, rewarding irresponsibility and benefiting colleges more than students. As Heritage Foundation experts note, loan forgiveness doubles down on failed policies that caused the $1.6 trillion mess in the first place. Students are ripped off not just by interest rates but by the false promise of higher education as a golden ticket. Many graduate with mountains of debt for degrees that offer little return, delaying marriages, homeownership, and family formation—core conservative values. The solution isn’t more handouts; it’s accountability. Republicans have introduced bills to hold colleges responsible for the debt they create, such as making schools cover a portion of defaults or tying federal aid to graduate outcomes.