It’s actually not in people’s best interest to make sure they can get loans they’re likely to not be able to pay back, even if those loans enable something that is good.
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We enable it under faulty assumptions: that home prices always go up and that a college education always provides a better career. Both of those assumptions, we now know, are objectively false.
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And behind the scenes making sure that literally 100% of people qualify for loans for x does nothing more than make the price of x skyrocket, effectively screwing the people we wanted to help.
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Consider also that as universities onboard more students, their bureaucracy must also increase to manage capacity, which creates inefficiencies and demands higher tuition to pay for both the staff and the inefficiencies they bring.
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So instead of investing in new technologies or better facilities or even scholarships, universities invest in what will bring them more money: housing. More housing = more students = more tuition, even as they cram hundreds of students into dilapidated lecture halls.
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It does not follow from huge student debts being bad that universal higher education, itself, is problematic, unless the latter necessarily demands the former. Perhaps the point is to dissociate the two. Traditional academic institutions do a really bad job at that
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Maybe we just need to make sure no one needs to take out loans to go to college. Problem solved!
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