In an op-ed in Forbes.com yesterday tactfully entitled SAFRA Stinks, the CATO Institute’s Neal McCluskey argues against legislation that would end wasteful government subsidies to student loan companies, and use the $87 billion we will save to make college more affordable and accessible. Unfortunately, his argument is based almost entirely on his free market ideology, rather than an assessment of the current state of education and a desire to solve concrete problems.
Here are his major arguments and our response, one by one: