The debt being taken on by students is costing all of us. Many of the most innovative businesses with explosive growth potential are created by young entrepreneurs. The middle and lower-class students who graduate with big debt won’t have that option. Countries who follow the more advanced approach of greater public finance for education will continue to reap the economic benefits. In addition to the young self-employed, high-tech companies move in to take advantage of the rest of the well-educated work force.
We can in invest in our future, or mortgage it for tax cuts for people who don’t need them.