The whole debate over Fed.gov discharging student loan debt proves that “higher education’s” cost and bloat is a purposeful government (now leftist) political project, funded by Fed.gov printed, fiat, debt-money.
Yup, absolutely correct. The colleges don’t care as long as the gubmint doh-re-mi keeps on a flowin’. I never give any more money to my ex colleges. I paid them for the education already. Not paying for woke propaganda.
Of the three parties to financing someones education (student, school, finance) only the school has absolutely no reason to control costs. Put another way, there is no capitalistic pressure, no competitive pressure to deliver a quality product for a reasonable cost. Schools feel they can charge whatever they want because usually the student has no choice if they need to attend a particular school. Schools knows the tuition and fee money comes from an outside source - who cares where from. Which source (student, FedGov, banks), how much does a loan cost, none of that is of any concern to a school.
The most obvious solution is to mandate that the school participate in the financing. Additionally if there are multiple participants in the financing, stipulate that the school will be the last lender to receive re-payment. This will pressure the school to insure that they produce a viable product (a well trained graduate) who will have the ability to discharge the financial obligation to all the lenders involved.