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Student loans aren't a scam , they work just fine. Unlimited student loans are a scam. Unlimited tuition increases and colleges taking advantage of unaware stud
by stjohnswarts 5y ago
Student loans aren't a scam , they work just fine. Unlimited student loans are a scam. Unlimited tuition increases and colleges taking advantage of unaware students is a scam. Colleges don't seem to understand "no" or budgets to new, unfunded enterprises and try to go beyond their own means. They'll just raise tuition to compensate. The government has to cap student loans, just like it has to cap medical care costs or the cycle is just going to feed itself.
- mywittyname 5y agoGovernment-backed student loans for undergrad are capped. They are capped around $32k total and are distributed on a gradually-increasing schedule. They also have been capped for decades now. So clearly that isn't the solution to the problem.
- tschwimmer 5y agoThis is true but paints an incomplete picture. If your parents are eligible, they can borrow an unlimited amount of "PLUS Loan" money which is privately lent but government backed by virtue of the fact it can't be discharged even in bankruptcy. [0] [0]https://www.investopedia.com/student-loan-limits-how-much-can-you-get-4771312 https://www.investopedia.com/student-loan-limits-how-much-ca...