Manhattan Moment: Federal student loan programs need greater oversight

Published March 7, 2014 5:00am ET



Federal student loans have recently come under fire for indebting a generation of students. Many families are slowly realizing that it might not be worthwhile to take out copious federal loans for an expensive education that offers poor employment outcomes. As it turns out, however, these loans might be paying for something else entirely.

The Wall Street Journal reported Saturday that an increasing number of students are using federal loans to pay for living expenses unrelated to their education.

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