After a bit of a false start last week, it sounds again like the Senate is on the brink of a bipartisan compromise that will link rates on federal student loans to overall interest rates. Given all the hubbub that’s surrounded the loans, that’s big news. Given the actual change that would take place, it’s tiny.

Washington hasn’t passed a new law to avert it, so today’s the day that all of higher education has, it seems, been dreading: The day that interest rates on subsidized federal student loans double, going from 3.4 percent to 6.8 percent.

If this is how reauthorization of the Higher Education Act is going to go, Congress shouldn’t even bother.

As we slide towards the “fiscal cliff,” President Obama’s stance seems pretty clear: Americans want lots of stuff but shouldn’t have to pay for it. (It’s a position the GOP has also often taken.) A new education survey suggests the President’s position is politically smart.

The nation’s biggest subprime student lender–your federal government!—has just called out private “subprime” lenders.

In a speech today, presumptive GOP presidential nominee Mitt Romney will lay out the foundations of his education platform. Based on an outline of his proposals released by Education Week this morning, Gov. Romney seems just a little less disinterested in the Constitution — and the 40-plus years of proven federal education failure – than the man he seeks to replace. And no, calling what you want federal “incentives” neither absolves them of being unacceptable federal intrusions, nor makes them any less coercive.

Sometimes I wish politicians were more like good parents. I know that doesn’t sound very libertarian — the last thing we want is for politicians to become humanity’s moms and dads — but there’s at least one thing good parents do that most politicians constantly avoid: saying “no.”

Like most political discussions, the student aid debate is driven far more by sentiment than reasoned analysis. If we used the latter, we’d be demanding big aid cuts for the sake of students and taxpayers alike.

College prices truly are ridiculous. But someone needs to tell President Obama that the root problem isn’t the colleges, which he is expected to announce today will be the targets of proposed sanctions should they raise prices too fast. No, the problem, Mr. President, is a federal government that wants to play Santa Claus by giving everybody, no matter how poorly qualified or unmotivated, money for college.

Nobody wants to be the guy — especially the Congress-guy — who says that we need to cut education spending. Nobody wants to be the target of attacks from both the well-intentioned and politically opportunistic that they hate children, only care about “the rich,” or any of the other deviousness  that long ago snuck up behind reasoned debate, threw a rope around its neck,  and pulled it backwards.