Alan M. Arsht (@aarsht)

It is time to transfer the federal student loan program back to banks or others interested in administering this activity. As Biden has demonstrated, it is too tempting for politicians to cancel or forgive student loans in return for hoped-for votes. This action, combined with ways to make colleges and universities have some skin in the game vis a vis bad loans, would save the US Government billions and might add pressure on colleges and universiities to lower tuitions, which have risen at much faster rates than overall inflation.