Last week we shared some charts on the utter failure and folly of federal intervention in education for K-12.

An even bigger failure has been the $1.5 trillion student loan boondoggle. As even more federal dollars have flowed into higher education in grants and (largely forgivable) loans.  This is the result:

We got a lot of praise and criticism from readers for our call to impose an excise tax on university tax-free endowments above $1 billion. But what is clear is that almost none of these treasure chests of wealth are being used to make college more affordable. Shameful.