I 100% agree. I think one can easily trace the amount in student debt to the cost of tuition et al to obtain a degree. STOP the madness and STOP putting out government insured loans. Costs will go down quickly or collegescams will have to fund the exhorbantant salaries of administrators and professors out of their endowments. Case solved. Indebtedness will drop as nothing is heaped onto the government guarantee and if not, it will be expunged when the debtors die. BTW, one additional thing they could do is offer a program that the loan will be paid off if one pays off the original balance, not the penalties and fees with a one time payment. The loan originator gets their money back and gets to claim the excused accrued interest as a loss.
Interesting I didn’t know that. Also, the average debt students end up with comes out to about half a car loan. Add all that up and it’s a big number, but for most it would be manageable if we hadn’t convinced them they deserve to have it vaporized for them.
Still, get the taxpayer out of funding the largely ineffective, indoctrinating and overpriced college educations of others!