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Ups and downs

November 23, 2011

Coastal bend unemployment dropped to 7.5%, partly due to all the drilling in the Eagle Ford shale. The Navy is laying off three-thousand mid-career sailors. The trajectories of oil exploration and military cutbacks intersect at Ingleside, where an offshore drilling facility will replace the former naval station.

Contrary to this article, it seems to me the straight-forward solution to the student loan crisis is to roll back federal guarantees and the law that prevents their discharge in bankruptcy. Why should the banks making student loans get federal guarantees no other lender gets? Lenders then would be more careful loaning money to an eighteen year-old, and schools more involved in helping identify career paths and qualify students who would benefit from early debt. And some students might find their way to the oil patch for a spell, to save for college. Quite a traditional route through school.

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