I agree with your analysis — gov’t loans driving up the prices. For some reason, I thought in 2009 the gov’t took over the financing of student loans. Thanks for pointing out my error.
How about we actually introduce CONSEQUENCES for not finishing high school. NO welfare, NO disability to get on, NO low-end government/union jobs that end up being gravy train rides.
They’ll finish high school w/o having to throw money at the problem. They don’t and they can take a job working at the local shoe store.
They “sort-of” did. It used to be that private banks would issue loans backed by the government, then banks were also free to issue non-backed loans on their own.
Now, if you want government you HAVE to go through Sallie Mae in my understanding, but can still get a non-subsidized, non-guaranteed loan seperate from that.