Student loans are also related to universities raising their costs substantially. I think it would be very hard to pay full tuition at Stanford, MIT, Harvard, etc without student loans even working full time in college. Part of the blame can be an educational system that has costs spiraling out of control
Taking away student loans would remove some of the upward pressure on tuition, but frankly those schools would have the luxury of accepting only rich kids. (If you're turning away 90% today, and your applicant pool is cut in half, you still have to turn away 80%.)
I won't go so far as to say that arguing against student loans is directly arguing to reserve elite colleges for the wealthy only, but I am one kid who wouldn't have been able to go without loans. Perhaps that makes me "too involved" or "too passionate" about my own experience to be fully objective, but I'm glad every day, workday or not, about the choices I made and the fact that loans were available so I could make that free choice to take them.
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Student loans are also related to universities raising their costs substantially. I think it would be very hard to pay full tuition at Stanford, MIT, Harvard, etc without student loans even working full time in college. Part of the blame can be an educational system that has costs spiraling out of control
Taking away student loans would remove some of the upward pressure on tuition, but frankly those schools would have the luxury of accepting only rich kids. (If you're turning away 90% today, and your applicant pool is cut in half, you still have to turn away 80%.)
I won't go so far as to say that arguing against student loans is directly arguing to reserve elite colleges for the wealthy only, but I am one kid who wouldn't have been able to go without loans. Perhaps that makes me "too involved" or "too passionate" about my own experience to be fully objective, but I'm glad every day, workday or not, about the choices I made and the fact that loans were available so I could make that free choice to take them.