Elizabeth Warren is now a senator from Mass. Before that she was the self-avowed "mother" of the Occupy movement and admitted liar by claiming native-American heritage in order to get a coveted minority teaching position at Harvard. Now she's introduced her first Senate bill and its purpose is to force the government to loan irresponsible students money at the same rate that they loan it to banks. Student loan rates are now at around 4-5%, while banks get like .54%. She objects to the disparity between the two and wants taxpayer money to be more accessible to students to waste on degrees in Philosophy, Women's Studies, and Psychology.
As regular reader David observed, banks get a lower rate because they are a lower risk. How is a graduate with a Philosophy degree that cost him $50,000 ever going to pay it back schlepping coffee at Starbucks?
Don't be fooled by her pretend care for the kids. Sen. Warren is just making it easier to shovel as much taxpayer money as possible into academia because it is a huge advocate for liberal political policy.
The easier you make it to borrow money from the government(other taxpayers) for education, the more institutions are going to charge for tuition. It's nothing but a money transfer scheme from taxpayers to the higher education establishment as payback for its fanatical support of extreme liberalism.
Here's Sen. Pocahontas indicating the depth of her genuine care for kids getting an education.