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As others have pointed out, and as a few media outlets have increasingly covered, there's a big difference between sticker price and net price. A minority of st
by JoeJonathan 4y ago
As others have pointed out, and as a few media outlets have increasingly covered, there's a big difference between sticker price and net price. A minority of students at private universities pay full sticker price, and if I had to guess, I'd say most are wealthy foreign students (who are effectively subsidizing domestic students' education).
Colleges—as well as sites like US News—should figure out a way to more effectively communicate average cost, or a typical cost range, after non-loan student aid.
Student loans are another issue entirely. I agree with other commenters that universal student loan forgiveness isn't a long term solution to the student debt problem, and I think we should focus on expanding and simplifying programs like PSLF (Public Service Loan Forgiveness). That said, I don't find the rational-choice argument ("I ran the numbers and determined X, and did Y") persuasive. Few 18-year-olds have an expansive enough understanding of the world to accurately assess student loan burden against potential future earnings.
Finally, we forgive and renegotiate all kinds of debt all the time. Why can't we do the same for student loans? Why are student loan interest rates set a decade in advance by Congress? The system makes no sense.