Federal Student Aid and the Law of Unintended Consequences

By Richard Vedder

These programs are commonly rationalized on three grounds: on the grounds that assuring more young people a higher education has positive spillover effects for the country; on the grounds that higher education promotes equal economic opportunity (or, as the politicians say, that it is “a ticket to achieving the American Dream”); or on the grounds that too few students would go to college in the absence of federal loan programs, since private markets for loans to college students are defective.

All three of these arguments are dubious at best.

About Stan Guthrie

Stan Guthrie is an editor at large for Christianity Today magazine and for the Chuck Colson Center for Christian Worldview. His latest book is God's Story in 66 Verses. He also is author of All that Jesus Asks: How His Questions Can Teach and Transform Us, Missions in the Third Millennium: 21 Key Trends for the 21st Century, and A Concise Guide to Bible Prophecy. He is co-author of The Sacrament of Evangelism. Besides authoring, writing, and editing books, Stan is a literary agent, bringing together good authors, good books, and good publishers. Stan writes the monthly Priorities colum for BreakPoint.org. He has appeared on National Public Radio's €œTell Me More,€ WGN's Milt Rosenberg program, and many Christian shows, including The Eric Metaxas Show and Moody Radio'€™s €œNew Day Florida.€ A licensed minister and an inspirational speaker, he served as moderator for the Christian Book Expo panel discussion, Does the God of Christianity Exist, and What Difference Does It Make?
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