IMO, had the US government never got into the student loan guarantee (Like mortgages) we wouldn’t have a student loan bubble. As long as colleges know the government will guarantee every loan they’ll raise prices. Democrats will never go for it but student loans MUST go back to being privatized. When students have to go convince a banker for a loan for a certain field of study, they must be able to convince said loan officer that they are not a high risk and has a high probability to pay such loan back. Plus students MUST put up at the least 20% so that they too have skin in the game.
Sorry for the rant but that’s how I feel.
I agree with you. In the news recently there has been talk of how colleges are seeking foreign students since less Americans are going; 20 years ago when I was in school they sought those students because they paid out-of-state tuition (they were more lucrative than “native” students). For too long these schools were accountable to nobody and squandered money; now the money is gone.