(06-29-2017 03:27 PM)Cat_Litter Wrote:  

(06-29-2017 03:10 PM)QSECOFR Wrote:  

(06-29-2017 03:08 PM)Recluse1 Wrote:  As a whole, the lack of oversight in how this money is spent is frightening, rising tuition costs need to be addressed. As unpopular as such an idea would be. I think fairness needs to be put into place, but whenever a heavy handed approach is used by states or the federal government toward anything, it just seems like things get worse.

Tuition rates having been climbing very fast at ALL schools because of the student loan program which now carries more debt than all U.S. household credit card debt.

Get rid of the student loan program and tuition will drop like a rock.

How so? How is tuition based on outstanding loan balances when the loans are made by banks, not the university. Just curious.

Universities have no incentive to compete on price because every student has unlimited borrowing power (thanks to the nondischargability of student loan debt in bankruptcy). They can charge whatever they want and expect the student to borrow more in order to pay, and the banks are happy to give more money because the loans are virtually risk-free for them.

If you ended student loans, suddenly only a very small part of society would be able to afford college. Universities would have to make their product more affordable or face a shortage of students.