Government Subsidized Student Loans Have Economic Costs but Political Benefits

Higher education has become increasingly important in the contemporary world scenario today where globalization has led to a higher need for a skilled labor force that is mobile and that is well-versed in the academic disciplines followed all over the world. In fact university education is starting to be seen as a hallmark for success, even though there are college drop outs who have become billionaires.

The recent spate of universities and higher education institutes has led students and their parents to believe that university education is mandatory for all those who want a nice career and income in their lives, and has increasingly blurred the distinction between necessary and mandatory education, compared to professional education that is mainly to benefit the individual.

In light of this dilemma, yet another question arises of helping students gain this education with the...
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