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Paying Back Your Country Through Income-Contingent Student Loans, Evelyn Brody
Paying Back Your Country Through Income-Contingent Student Loans, Evelyn Brody
Evelyn Brody
This article uses the case of paying for a college education to study broad issues of equity, both between families and between generations. As a normative matter, I argue that we should subsidize the education of those who are disadvantaged, but that is because a college education generally 'pays off,' society as a whole should not subsidize most students. Rather, the government can serve the valuable function of simply ensuring that students have access to sufficient loans to finance their education. Congress recently enacted President Clinton's proposal to convert the federal role from a guarantor of student loans to a …