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It's because you didn't need a subsidized loan when you could afford to pay tuition yourself. Sure, they were available, but there were fewer people that would
by anthuswilliams 16y ago
It's because you didn't need a subsidized loan when you could afford to pay tuition yourself. Sure, they were available, but there were fewer people that would be unable to attend school without them. I have an old teacher who went to college in the seventies, and he says he didn't get a subsidized loan because he was too lazy to walk down the street and fill out an application.
- cageface 16y agoIsn't that kind of a circular argument? Loans are more common now because tuition is more expensive because loans are more common?
- anthuswilliams 16y agoI don't know that that's a circular argument so much as a vicious cycle. Perhaps I am reading too deep, but that's the exact point the article seems to be making.
- jerf 16y agoIt is temporally circular, not logically circular. It's a pernicious cycle. It has been headed for disaster for a while, but like a lot of economic trends that were (and are) obviously headed for disaster, people tended to think it could go for another ten or twenty years, a horizon that has really shrunk due to the fact that the economy has choked. If the economy doesn't really pick up in the next year I think we're going to see some very shocking numbers come next fall admission.