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this post was submitted on 11 Oct 2023
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Asklemmy
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Loans that can't be discharged are the problem. Tuition went out the roof when universities discovered this gold mine.
But on the other hand, if loans were subject to bankruptcy, most poor people would never be approved to get them.
We could go back to government guaranteed loans based on financial circumstances. And we could go back to tuition rates that were compatible with working your way through college. That system worked pretty well. It did drop some students through the cracks because their families were too wealthy for them to qualify and they couldn't or wouldn't work their way to tuition, but it seems like it did a lot less damage than the current system.