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"You shouldn't expect (student loans) for your own kids... You might have to be your own kids’ bank when they need $40,000 for college like you did (they’ll nee
by tapp 16y ago
"You shouldn't expect (student loans) for your own kids... You might have to be your own kids’ bank when they need $40,000 for college like you did (they’ll need more)"
I believe that's exactly backwards - they should need less total money if that happens. If student loans immediately ceased to be available, couldn't we expect the price of college education to drop in response?
- crpatino 16y agoYes, and no... If no student loans are available, affordability goes down followed by demand. The bottom feeder Universities get wiped out of the map first, but enrollment will fall across the board. If a critical mass of applicants exist to support a reduced University System, a new equilibrium point will be found, and education cost will be cheaper. However, if this is not the case, the only survivors will probably be a handful of Ivy League schools, who will actually raise tuition and cater to the children of the wealthy.