President Obama recently concluded a five-year campus speaking tour in which he explained to students how his financing programs were making college more affordable. Then on Thursday he kicked off a new campus speaking tour to tell students that college is unaffordable, and that the financing program he has championed faces increasing defaults.
“We’ve got a crisis in terms of college affordability and student debt,” said Mr. Obama, without a trace of irony at the State University of New York at Buffalo. The same man who three years ago forced through a plan to add $1 trillion in student loans to the federal balance sheet over a decade said on Thursday, “Our economy can’t afford the trillion dollars in outstanding student loan debt, much of which may not get repaid because students don’t have the capacity to pay it.”
Naturally, the President blamed somebody else and demanded more authority over higher education.