If Democrats are so insistent on bailing out those holding student loans, why not make the people responsible in the first place pay, writes TianatheFirst. Instead of the rest of us already cracking under the weight of American stagflation.
Although the modern university endowment was invented half a millennium ago with Lady Margaret Beaufort’s endowment of scholars at Oxford and Cambridge during the reign of her son, King Henry VII of England, the very raison d’etre of the American endowment wasn’t really put to the test until 2005, when Hurricane Katrina forced Tulane University to close for only the second time in its history.
One would expect that hundreds of thousands of dollars of physical damage and countless lost revenue would be exactly what a university endowment would theoretically be used for, right? Instead, just one year after reopening, Tulane sat on and even built its endowment, which soon reached $1 billion, or more than most Oceanic nations.
When former President Barack Obama federalized the student loan system, he put taxpayers on the hook for a university system they have zero control over.
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