Guess who’s serving the student loan industry?

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Gage Skidmore via Wikimedia Commons

Question: What do you get when you combine ignorance, imperiousness and incompetence? Answer: Betsy DeVos.

She’s Donald Trump’s multi-billionaire education secretary who hates public education and loves the plutocratic idea of corporate rule over democracy. DeVos is so bad that she’s winning the contest for worst member of Trump’s cabinet (a little like winning the title of ugliest toad in the swamp). She has been a shameless shill for one of the ugliest parts of the financial services industry — the Wall Street-backed network of for-profit colleges, rip-off lenders and ruthless collection agencies.

Some 5 million students — largely single moms, veterans and other low-income people — have been forced to default on their student loan debt and have had their credit ratings and job improvement prospects destroyed by this profiteering private education system that DeVos carelessly promotes. Her latest favor for the industry was to assert unilaterally that her agency can pre-empt any state laws designed to stop the blatant lies and abuses of this predatory network of corporate education. Her bureaucratic claim is that state efforts to protect student borrowers undermines “uniform administration” of student loans. In her shriveled world of laissez-fairyland values, you see, the uniform gouging of students trumps such basic human values as economic fairness and social justice.

Heavens to Betsy, what’s wrong with this lady? Our nation’s student loan debt has ballooned to $1.4 trillion, threatening to blow another big hole in our economy, yet she’s stupidly conspiring in her department’s back rooms with Wall Street’s fast-buck educational exploiters to enrich them at the expense of students, taxpayers and the public interest. DeVos is the one who needs an education — both in economics and ethics.

This opinion column does not necessarily reflect the views of Boulder Weekly.