Arnold Ahlert: “Right now there is more than $1 trillion dollars of outstanding student debt, with each student from the class of 2013 amassing an average of $28,400. The current default rate has fallen to 13.7 percent from 14.7 percent the previous year, but the Obama administration was still forced to raise its estimated cost for student loans by $22 billion. Why? Because the Obama administration is rigging the payback system. ‘The government is on pace to forgive billions of dollars more in student loans than previously thought as droves of borrowers enroll in federal repayment plans,’ the Wall Street Journal reports. The additional $22 billion is needed ‘due to plans that peg monthly student-loan payments to borrowers’ income and permit balances to be forgiven in as little as 10 years.‘ That’s not a repayment plan. It’s nothing more than welfare, ultimately backed up by the taxpayer. Why the taxpayer? Because universities themselves have no skin in the game. They get paid in full, no matter how many students default on their loans. And that’s because the Obama administration nationalized the student loan program in 2010 – as part of ObamaCare, no less. So what do universities who have no worries about the bottom line do? Pay professors more. Hire legions of worthless 'diversity’ specialists that now inhabit the bureaucracies of campuses across the nation. Build more expensive and fancier campus facilities designed to attract more students – all of which contribute to tuition costs that are completely out of control.”