Rant: I feel like most people haven't really thought about why colleges are so expensive now. It is because of the federally guaranteed student loans. It means there's pretty much no downside to banks loaning an arbitrarily large amount, because if the student doesn't pay it back, the government will. And since most 18 year old students have pretty much zero price sensitivity, and they now have unlimited funds, colle…
> If you just took away the guarantee on the loans, and made them dischargable in bankruptcy, colleges would be forced to compete on price again
You'd also see many people couldn't afford college because they wouldn't be approved for the loan without the federal guarantee. I feel like the solution is universal education, we dance around it because it's not politically feasible but it's the solution. Set some rules around who can attend (grades, testing, etc). Setting reimbursement rates will control costs (like Medicare does). Force the universities to collect from the government (like hospitals do). Force 'quality control'/compliance on education standards (also expected of hospitals).