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Mario Tama/Getty Images Graduates of top-tier master's programs are increasingly unable to make enough in their early careers to put a dent in their insurmountable student loans, a Wall Street Journal analysis reveals, thanks in part to a federal Grad Plus loan program with "no fixed limit on how much grad students can borrow." Grad Plus, which students might use to cover the cost of tuition, fees, and living expenses — is the fastest-growing federal student loan program, reports the Journal, with recent interest rates as high as 7.9 percent. "No-limit loans" produce graduate program ...

How moderates’ fear of the Congressional Budget Office screws students and shrinks ambitious policy, all to protect the fabled “taxpayer”

Silly me! Here I thought the main reason for funneling so much money into higher education via what has become lax student loan screening was patronage. Academics and administrators have a strong tendency to vote Democratic. So a debt-fueled expansion of colleges and universities could only help Team Dem. But in finance, bad accounting regularly drives bad outcomes and that looks to the far more immediate cause for the expansion in student loans, and the resulting escalation in higher education costs. Another example of this type of dynamic is the global financial crisis. As we explained lon...