The education industry doesn’t really like it. Because all these loans come with a huge overhead for them. The financial aid department is often the largest department in a college, and they have to do the most recurring training. They don’t spike the price because of all the loan money coming in, the spike the price because their costs have gone up because they have to add more people with more training to an already huge department.
What a load of crap.
The education industry is under no obligation to accept anyone that can't pay.
If the overhead was such a burden, they'd simply refuse to participate -- but they don't refuse. They don't refuse because they make plenty of money from borrowers.
The education industry has turned into General Motors. They don't make money selling educations. They make money by facilitating the financing of educations.
How long have you been around American colleges and universities? They’ve spiked the price like crazy because that’s what the market will bear since we’ve flooded them with cheap, subsidized loans and grants.
Meanwhile, they put a good chunk of that money into creating a deluxe, spa-like campus and lifestyle for the students they require less and less and less of, academically, all the time. Because the students, with their parents, are making the purchase decision but often not having to bother with the price tag.
Further, the colleges collude to make sure they don’t end up bidding against each other for the students they want.
It’s a corrupt and wasteful system that should be smashed back down to earth.