Colleges raise tuition every year. Some have multibillion dollar endowments. Collage aid leads to higher tuition for the same (or worse) schooling.
“Colleges raise tuition every year. Some have multibillion dollar endowments. Collage aid leads to higher tuition for the same (or worse) schooling.”
Indeed which is precisely why these Collages and NOT the government needs to be financing the loans & thus baring most of the risk for their product.
If their product is good then their students will go on to make lots of money over the next 10-20 years thus paying back the loan with interest. If however their product is bad, then the school with justifiably go under along with the suffering student they poorly served.