Student-Loan Forgiveness Is Really a Bailout for Woke Higher Ed

Defenders of President Biden’s half-trillion-dollar debt relief argue that student debt is weighing on the economy. But shouldn’t higher education be an investment?

The real problem is that federal subsidies have distorted this investment and led to a misallocation of human capital. America’s bureaucratic-educational complex has produced too many young people with too much debt and too few skills that employers want and not enough workers with the skills they need.