alt Hacker NewsCollege graduates have been saddled with debt for a few decades now. Universities know that most of the student base gets a federal loan and once the money changes hands, don't care if it can ever get paid back.
This has led to administration bloat and majors that are completely useless when you graduate. Federal loans should be eliminated and universities should back the loans themselves.
That would unfairly couple the success of their students with their own success /sarc.
The government has a history of inflating anything they offer cheap money for. Housing, healthcare, education.
In our area parents can get several thousand for opting out of public school. That can be used to offset private school tuition. What happened? Private school tuition rose by about the amount the government was giving. It’s no more affordable, the government is on the hook for money, and the private schools have less incentive to compete since they got a 50% bump for doing nothing.
Any time the government offers handouts fraud, waste, and inflation will follow.