Occupy Wall Street and Student Loans

Christopher Coyne

Christopher Coyne is the F.A. Harper Professor of Economics at George Mason University and the Associate Director of the F. A. Hayek Program for Advanced Study in Philosophy, Politics and Economics at the Mercatus Center. Coyne is also the North American Editor of The Review of Austrian Economics and a regular contributor to the blog Coordination Problem.

According to Prof. Chris Coyne, one of the main concerns of the Occupy Wall Street movement is the rising cost of college and student loans. If student loans were forgiven, however, it wouldn’t solve the fundamental problem of costly education.

A government program that forgave student loans would improve the finances of people holding student loans, but it would do so at the expense of taxpayers in America. Many of these taxpayers would fall within the 99%.

Furthermore, by seeking bailouts for student loans, the Occupy Wall Street movement is fundamentally no different than the banks and corporations that they’re criticizing.

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