You or someone you know is affected by the outrageous price of a college education. Tuition has risen completely out of proportion with the economy, and it’s a perfect example of the law of unintended consequences.
The idea that a college education made you “better” is one that appeals to an educated population and statistics bore out that people with college degrees generally made more money. So big government got involved in an attempt to equal the playing field by giving out low interest loans to students.
Colleges quickly became experts at helping students get loans. And now that more people could afford it, colleges could raise their prices. And then help students get more loans. And then raise prices. And then help them get more loans. A 4 year degree now takes 5 years. Colleges are happy to take your money to teach you a skill that has no practical value!
And who doesn’t like this? The banks love it, the colleges love it. The students love it for a while. Until costs keep rising.
And government has intervened by using the law to protect banks. America was founded on the idea of no debtors prisons. Your rights include being able to declare bankruptcy, and suffer social consequences, but not criminal ones. But not for student loans. The government has changed the law to take away your right to default on student loans.
We can end this easily. Restore the peoples right to default.