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We are just bailing out the wealthy schools and not fixing anything. The schools don't have to worry about the money when it changes hands immediately when a s
by billy99k 3y ago
We are just bailing out the wealthy schools and not fixing anything. The schools don't have to worry about the money when it changes hands immediately when a student enrolls (the student takes out the loan).
They have no incentive to lower costs or to stop churning out expensive degrees that most likely will never pay for itself.
We need to stop all federally backed loans and force the universities to back them instead. They will then have an incentive to actually get paid back.
- johng 3y ago100% agreed. I'm also OK with fixing the broken predatory loan system. Students should be educated on the interest, penalties, etc.. and they should be labeled. Truth in billing for this stuff just like we have for telco bills.
- Ancalagon 3y agoAgreed. Also need mandatory caps on tuition for public universities that make sense and ideally start funding those universities again.