Candidate for U.S. Senate for the Libertarian Party Phil Anderson, unlike his two major party opponents, advocates for an end to the Federal Student Loan program.
“The Federal Student Loan Program has been a colossal failure, and it’s time to put an end to it,” said Anderson. “Fed by this open checkbook, costs at American universities have skyrocketed and students and parents have been taken along for the ride.”
“Total student loan debt is now well over one trillion dollars,” said Anderson. “Young people are entering the workforce crippled by the burden of having subsidized inflated spending in higher education; the universities, faculty, and layer upon layer of useless administration have benefited on the backs of an entire generation.”
“And when many of the loans go into default, because borrowers can’t afford to pay them back, the burden will fall back on the taxpayer,” said Anderson. “This will complete the massive transfer of wealth from the public to the pockets of universities. We should all be outraged at this theft and should put an immediate end to the continuing rip-off.”