Do you want to fix that cost too? Just like insurance, which drives UP costs, student loans do the same. And by “student loans” I mean government guaranteed student loans.
What those do is allow the lenders to lean money willy-nilly without fear of losing repayment. And that also means the schools can raise tuition through the roof and anyone can still pay for it because the government will back any loan.
So the lenders win because they are playing with other peoples money and they can’t lose.
The schools win because they can charge whatever they want and STILL get people to pay for it.
The government wins because the average dude watching his idiot box thinks the benevolent kind folk in DC are for the “working man” and that they care that “poor folk” get a proper education.
Who loses? The tax payer. Because when the government decides that student loan debt is too much and it can’t be paid back without undue harm to the borrowers lifestyle, they will print more “money”, pay back the lenders (who should be taking the loss) and we get killed by increasing inflation.
It’s simple economics. You can’t prop up business and schools like we do and not expect to pay the price, which is the hidden tax of inflatio.
