Originally Posted by Amnorix
I'm not saying zero government support for college and other higher education tuition, but the massive support, when it's basically the colleges deciding who will get the support, with the feds writing a blank check, is creating massive economic distortions, including burdening the same students they're trying to help with more and more debt.
Why do you think tuition goes up 8% every year like clockwork? Easy, it's because society has a screwed up understanding of the value of a college degree, and the colleges have NO RISK that their students won't pay the tuition. The repayment risk is entirely on the students and the federal government, so why not fleece them for every dime?
So . . . do we allow student loans to be dischargeable in bankruptcy in an attempt to get schools to lower spending, or hold off public funding to the school (which will just have the schools raise student fees). Or dry up the loan process, which will cause the public to complain about lack of education opportunity.