The Obama administration says it will save tens of billions of dollars by taking over the student loan industry. Lenders have resisted the proposal by saying students should have a choice between government loans and those provided by the private sector. But now, lenders are fighting back against that plan with a new argument — that it would kill jobs.
If student loans were forgiven and the government fully funded all levels of education from pre-K to PhD, there would be an even bigger boom to the economy because we wouldn't be expending so many economic resources on just paying for tuition and books.
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