This Fed Official Just Perfectly Described Why Student Loans Are a Terrible Investment
When thousands of taxpayer dollars pay for a worthless education, we all suffer
Dudley, president and chief executive officer of the Federal Reserve Bank of New York, listens during a Senate Banking Subcommittee hearing in Washington on Nov. 14, 2014.
Photographer: Andrew HarrerThis article is for subscribers only.
William Dudley, president of the Federal Reserve Bank of New York, delivered a speech on Wednesday morning that drove home just how dangerous an investment student loans are for American taxpayers.
Speaking at a conference on student loan data, Dudley outlined the consequences of the unique way the U.S. government lends money to people for college.