4 ms·

Then why is this only mainly a US problem?

• kragen 4y ago
  Student loans make tuition-payers cost-insensitive.
• etempleton 4y ago
  Student loans are easily secured and, relative to the size of the loans, cheap money.
  • listless 4y ago
    This is the reason - because we are lending to anyone and everyone. It’s similar to subprime - no need to prove ability to pay the loan back. Only you can’t discharge student loans with bankruptcy so it’s almost worse in the long run. It’s predatory lending by another name.
• i_am_proteus 4y ago
  The students (and families) take on the debt. The government backs the debt. The schools get cash.
  • lotsofpulp 4y ago
    Yes, the entire problem self resolves by getting rid of > The government backs the debt.
• banannaise 4y ago
  This is how that argument works. You come up with a bunch of logical-sounding explanations for why it must be this way, completely ignoring the material reality that there are numerous working examples of other ways to do it. You keep everything as abstract as possible, and you hand-wave real-world counterexamples as sounding so extreme that they must be highly unusual and therefore irrelevant. And if someone presses the issue, you simply allow it to immediately devolve into bikeshedding, discussing the minutiae of that specific issue while ignoring the larger context. I'm not sure if there's a name for this style of argument, but it happens a lot, particularly in defenses of uniquely or primarily American phenomena.