My answer for the future would be to have national maximum tuition cap. Any tuition costs above that cap must be financed by the institution and that portion of the debt will can be discharged by bankruptcy.
The only reason tuition rates are going up so quickly is because there is money available through easy loans to students. Curtail the money supply and tuitions will decrease. If the schools have to actually compete for students then the price will go down and the quality will go up.
The cost of college will stop increasing when people get smart and stop paying for something that will end up being one of the worst decisions they can ever make.
> My answer for the future would be to have national maximum tuition cap. Any tuition costs above that cap must be financed by the institution and that portion of the debt will can be discharged by bankruptcy. <
That’s a great idea. Among other things, it would force colleges to act more responsibly.
Now:
Student: “I want to major in 12th century French poetry.”
College: “Sounds good! You’re enrolled. Now go borrow $100,000 for tuition.”
Under your plan:
Student: “I want to major in 12th century French poetry.”
College: “Ah...no. There’s no market for that. Pick something else.”