The fact that college continues to cost what it costs is why I had little faith of the student loan forgiveness crap that was going on last year. That crap never addressed the issue in the first place: The availability of student loans and its role of causing tuition to rise exponentially over the last 30 years.
Take the for-profit witch hunt from a few years back. The government took away student loans from those schools for one year and they all basically went insolvent within the year. I’m certain wholesale changes will happen to the college and university system if the government reduced their lending by just 30%. Schools closing, schools restructuring their programs immensely, schools being much more competitive (and lowering their prices). Right now they have no incentive to because it has been pretty much been open season on loans with the students ultimately holding the bag.
Take the for-profit witch hunt from a few years back. The government took away student loans from those schools for one year and they all basically went insolvent within the year. I’m certain wholesale changes will happen to the college and university system if the government reduced their lending by just 30%. Schools closing, schools restructuring their programs immensely, schools being much more competitive (and lowering their prices). Right now they have no incentive to because it has been pretty much been open season on loans with the students ultimately holding the bag.