Well with a car, if it always breaks down, you'll likely buy more cars through your lifetime, and the quality of the product has a feedback loop on the performa

Well with a car, if it always breaks down, you'll likely buy more cars through your lifetime, and the quality of the product has a feedback loop on the performance of the company. With a house, same thing. Worst case, if it's bad, sell it replace it with something else. But with education, students have likely never bought a car, or a house, and don't have much background or life experience at this point in their lives and you want them to make a one-time, long-term, investment decision in a non-fungible asset? Most students only make the decision once and whatever you learn about the school or career not meeting expectations isn't ever applied again. Worse, you don't find out first hand what quality your education really was until after leaving the college. Worst, the decision isn't really couched in terms of a ROI type investment decision (maybe thats changing), but that's certainly not the only factor at play in student school decision. That's not a good basis for balancing a market. > Loan issuers are forced to issue loans without regard to the likelihood those loans will be paid back. Private loan issuers aren't forced to do anything. They can always leave the market and invest elsewhere if they cant figure out how the serve the market.