>But the problem is how do you have someone with no assets get access to capital to allow them to build a better life? Reduce the cost of building a better lif

>But the problem is how do you have someone with no assets get access to capital to allow them to build a better life? Reduce the cost of building a better life. If lenders don't want to make non-guarenteed student loans, then the schools will have to figure out how to lower prices or deal with sharply declining demand. The ballooning administrative overhead at American universities is a well known phenomenon. Guaranteed student loans means there is little downward pressure on it.