National Review destroys the university Ponzi scheme

The National Review published an article Tuesday entitled “The University Gone Feral.”

It looks at the dangerous metamorphosis of the university/college system that were once beacons of idea exchanges and intellectual dialog. Now post-secondary institutions across North America are filled with cry babies, special snowflakes and those who want to quash free speech. With trigger warnings, safe spaces and political correctness, why would anyone want to waste $100,000 on a piece of paper at any of these indoctrination centers?

The magazine has this one superb passage:

“Crony capitalism is a favorite charge against duplicitous corporations that use insider knowledge and friendships to leverage favors from government, both to profit inordinately and to stifle competition. But even the croniest of capitalists could not match the university Ponzi scheme of having the government guarantee student loans, which in turn guarantee that rising tuition will be paid in full without audit, even as the cost soars above the rate of inflation — all on the wink-and-nod expectation that millions of students will subsequently default and the government will cover the huge tab. How could a university admissions officer in good conscience extend a “package” of $100,000 to $200,000 in student loans over a four- or five-year stint on campus, with the full knowledge that it would be almost impossible for an unemployed or partly employed graduate to pay back what he had borrowed?”