The reason college is so expensive now is because the government got into the loan business in the first place. If people were forced to take private loans, and students then started defaulting on them and picked stupid majors that couldn't make money, they'd stop loaning and the prices would go down.
Exactly. Even if he cancelled a portion of debt the problem would remain because the government guarantees those loans. Universities can just keep jacking the prices up because they know that money will keep pouring in
The reason college is so expensive now is because the government got into the loan business in the first place. If people were forced to take private loans, and students then started defaulting on them and picked stupid majors that couldn't make money, they'd stop loaning and the prices would go down.
Absolutely. Had to explain that to my uniformed normie young adults.
Exactly. Even if he cancelled a portion of debt the problem would remain because the government guarantees those loans. Universities can just keep jacking the prices up because they know that money will keep pouring in