My view is a bit different.
I think the govt provides subsidized student loans with minimal vetting of credit risk so universities can pay high salaries to liberal teachers and admins who recycle the money to Dem orgs. Sort of like the union dues scam.
If education loans were on par with similar credit risks, demand would be reduced and universities would be forced to price accordingly.
high salaries to liberal teachers and admins who recycle the money to Dem orgs. Sort of like the union dues scam
I prefer to call it a form of money laundering.