Op/Ed: To End Unnecessary Student Loans, Use Free Market to Help Education

By Robert Taylor of PolicyMic.com*

The Occupy Wall Street protests began in New York City almost two months ago, and the movement has spawned protests in 70 cities and 600 communities across the country and the globe. Protesters have generally expressed frustration and anger over income inequality, unemployment, student loans, and other issues, and it has been millennials who have appeared at the forefront of the movement.

Young people’s participation in the movement makes sense. Only 55% of Americans between the ages of 18 and 29 were employed last year, the lowest since World War II. In the last decade, the incomes of Americans between 25 and 34 have dropped by 12%. And barely 14% of 20-somethings are optimistic about the future.

The protests have drawn opposition from both Democrats and Republicans, but these critiques fail to address the root of the problem by ignoring the damaging effects of interventionist government economic policies in education for young Americans.

Under the guise of providing education, both Democrats and Republicans have encouraged the expansion of easy credit, federal student loan guarantees, and subsidized university education, resulting in the exact opposite of what they were intended to do; costs have skyrocketed, while the quality of education has gone down.

Instead of “reform,” a drastically new approach is needed in education that is based on individual liberty and the free market. Instead of paying property taxes to fund their education, families and individuals should have the freedom to choose their path in the assortment and competitive prices that the market provides.

Since the creation of the GI Bill in 1944, the federal government has encouraged millions of people, through the combination of loans and subsidies, to go into debt in order to attend college. The Federal Reserve made the borrowing easy with interest rates below market levels, and federal institutions guaranteed the loans. In the same way that the housing sector was distorted by a Fed-induced boom that eventually burst in 2008, this has similarly created an education bubble. Now about two-thirds of all college students graduate with student loans, and the average college student graduates $25,000 in debt. Tuition has risen by 900% since 1978. Combine these factors with a stagnant economy, and it is no wonder the “Occupy” protests are spreading through this country and around the world.

Thanks to government subsidies, many graduates hold “cheap” degrees that have little market demand. Because of this, over one-third of all college graduates end up taking jobs that even don’t require a degree, like waiters, cashiers, and janitors. Without the pricing mechanism of the free market to guide the education sector, colleges lack the proper incentives to prepare students for the future. As Michael Ellsberg argues in the New York Times, “American academia is good at producing writers, literary critics, and historians. It is also good at producing professionals with degrees. But we don’t have a shortage of lawyers and professors. America has a shortage of job creators. And the people who create jobs aren’t traditional professionals, but start-up entrepreneurs.”

The alternative to this lies in the free market. Without government subsidies and loans, multiple years of college would be only for scientists, engineers, and doctors who need certification and intensive training. The rest of the education sector would provide trade schools and institutions with courses aimed at providing people with practical and marketable skills and talents. Any loans or assistance would be completely voluntary, thus keeping costs low. A free market in education allocates resources in order to build entrepreneurs, wealth, jobs, and prosperity in order to attract future customers (students) and build their reputation. No longer would students have to bear the burden of debt that many OWS protesters claim they carry.

This means we need an end to federal student loans, grants, and subsidies. The competition of the market would bring costs way down, decentralize education, and allow much more diversity to a system that for too long has been dominated by a failing one-size-fits-all policy.

The problems fueling the frustration of the protesters will no doubt continue long after the protesters disperse. The best possible solutions to the protests lie in the expansion of individual liberty and the free market.

PolicyMic.com is a unique platform to host the highest-quality discussion online. Targeted to engage millennials in current events, the site uses game-like technology to incentivize users to participate in discussions more actively and comment more thoughtfully than on other sites across the web.

There are new curriculum standards being implemented into schools throughout the nation for health classes that not only go far beyond what's appropriate for young children, but are entrenched in clear political biases, too. Under the standards, third-graders are taught about hormone blockers and endless gender identities, and topics get shockingly graphic for kids as young as 11. Some schools are even teaching their teachers and kids to ignore what parents have to say about these topics. And the worst part may be that many parents are completely unaware what their children are being taught.

Tina Descovich, co-founder of Moms for Liberty, joined "The Glenn Beck Program" to explain exactly what you can ask at your next school board meeting to ensure this "horrifying" curriculum isn't being taught in your kid's school.

Watch the video clip below:

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To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.

It should come as no surprise that a newsworthy story receives more media coverage when released on a Monday than a Friday. The reason is in part due to a large number of news-consuming Americans checking out for the week to focus on their weekend plans rather than the news.

On Monday's radio program, Glenn Beck shared information that President Joe Biden decided to release on Friday — when fewer people would notice — regarding the Climate Finance report. This report is marketed to Americans as "A Roadmap To Build a Climate-Resilient Economy." But Glenn believes the report to be Biden's Great Reset warning shot to banks.

In this clip, Glenn warned that if Americans don't stand together, in eight years we all indeed will own nothing. Watch the clip for the full story. Can't watch? Download the podcast here.



Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.

On today's radio program, Glenn Beck was joined by Bill O'Reilly to discuss the top stories of the week.

For O'Reilly, the biggest story this week centered around someone mysteriously missing from mainstream media news reports today: Mark Zuckerberg. Specifically, O'Reilly said it's the 'scandalous' way the Facebook CEO spent nearly $420 million to influence the 2020 election — and did so successfully.

Watch the clip to hear the full conversation. Can't watch? Download the podcast here.

Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution and live the American dream.

On Thursday's radio program, Grace Smith and her father, Andy, joined Glenn Beck on the phone and provided a first-hand account of Grace's refusal to wear a mask at school.

Smith, 16, began a maskless protest after her school district in Laramie, Wyoming, decided to implement a mask mandate. As a result, Grace received three suspensions, was issued two $500-citations, and was eventually arrested.

"How long were you in jail?" Glenn asked.

Grace said was taken to jail but was never booked nor was she was placed in a jail cell.

Glenn commended Grace's father, Andy, for raising such a "great citizen" and asked if it was Grace's idea to protest. Andy said it was Grace's idea, explaining that they took the position of arguing on the grounds of civil rights rather than the efficacy of wearing a mask.

Grace has since withdrawn from public school and started a home school program. She also told Glenn that she will continue to fight the school district, legally.

You can donate to Grace's legal fund here.

To hear more from this conversation click here.

Disclaimer: The content of this clip does not provide medical advice. Please seek the advice of local health officials for any COVID-19 and/or COVID vaccine related questions & concerns.

Want more from Glenn Beck?

To enjoy more of Glenn's masterful storytelling, thought-provoking analysis and uncanny ability to make sense of the chaos, subscribe to BlazeTV — the largest multi-platform network of voices who love America, defend the Constitution, and live the American dream.