this post was submitted on 15 Jun 2023
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This doesn’t feel like it’s really going to do much. More information for those looking at loans is good, I’ll admit, but this doesn’t seem to do anything to help those already drowning in student debt.
(And the GOP never misses an opportunity to take a shot at Biden do they? I think they just want that sweet interest money.)
It kind of half addresses just how out of control costs of education itself has gotten. Not only tuition but cost of rent or dorms. (Though I guess that could be seen as a separate issue?)
Costs are still rising everywhere and doesn’t seem to be stopping anytime soon.
The root cause of these higher college prices are in fact that student loans are guaranteed. That's when it started and that's when it will end.
This is why it's a bubble. It can be guaranteed all the bankers want, if people cannot afford it...they will choose food and a warm bed long before they make that payment.
That’s why the government makes sure they can garnish you wages and even social security.