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Americans, how would you feel about making student loans completely illegal? (lemmy.world)

submitted 11 months ago by nodsocket@lemmy.world to c/asklemmy@lemmy.ml

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This would save young Americans from going into crippling debt, but it would also make a university degree completely unaffordable for most. However, in the age of the Internet, that doesn't mean they couldn't get an education.

Consider the long term impact of this. There are a lot of different ways such a situation could go, for better and for worse.

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[-] nodsocket@lemmy.world 2 points 11 months ago

Not exactly. I'm saying that banning loans would lower the price of education, either through cost cutting by universities or by a new education system taking its place.

[-] ada@lemmy.blahaj.zone 5 points 11 months ago

But unless it's free, the majority of people wouldn't be able to afford it anyway. Remember most people live week to week with no savings buffer.

this post was submitted on 11 Oct 2023

115 points (72.0% liked)

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