Why is their never any concern for the astronomical increases in tuition and fees? It's just accepted? Why is that?
Because spending more on education means the quality is better. Right?
Since the govt has now nationalized student loans, the student is indebted to the govt for decades. Nice racket academia world and govt have together.
What you don't know is that when the student loan program started it was what you call nationalized. However even when it was privatized in the banks, it was still nationalized.
reagan turned it over to banks (privatized) when he was president. The way it was set up was the student borrowed from a private bank and if the student didn't pay the loan back, the government did. Plus the government paid high fees to the banks for processing the loans and maintaining them. It cost us something like 65 billion a year.
I believe it's much better to do it directly through the government so that it costs less. We're no longer paying that 65 billion a year to those banks. The government now gets the benefit of the money generated from those loans. reagan changed it so that it's a win/win for banks and they raked in billions off the government and from students.
Whenever anything is privatized it cost more money because that private institution has to make a profit.
I don't understand why so many people don't realize that privatizing anything makes it much more expensive because there has to be a profit in it for that business. That profit usually is such high levels that the private institution makes a boat load of money. In the cause of student loans, they made that money from us taxpayers and from students who didn't have the money.