How Did This Happen?
College loans are not dischargeable in bankruptcy. Simple as that.
With lenders knowing that the government will make sure they get paid, they’re happy to loan out any amount of money to anyone regardless of credit worthiness, because they take on literally zero risk.
Then colleges realize the same, and jack up their prices in turn. The feedback loop brings us to where we are today. There is no market (or other) force putting any downward pressure on tuition costs, at all. This is the inevitable result.
College loans are not dischargeable in bankruptcy. Simple as that.
Yes Biden is basically running on the idea of solving a lot of the problems he created. He spent most of his life in government. Those of us who are informed came to terms with that in 2020
Not so much “came to terms” with it as much as “this dumb motherfucker is the only way we escape Trump. I hate him and his policies but I’ll vote for him I fucking guess.” Just like where we are now, but now many are even more pissed because it was already supposed to be just one term of a lesser evil before we’d have new options. Now goal posts are being moved and we all have to do it AGAIN for an asshole like Joe Biden who does not deserve it.
Why can’t these old fuckers just die already?
Yes this is generally true but I don’t feel like it’s fair to the colleges/universities who work to keep tuition and tuition increases in check. There are lots of decent public universities that have more reasonable tuition. The public university in my smallish city is about 10k a year for in-state. Not necessarily saying that’s ideal for everyone or cheap but it’s a far cry from these places pushing it to 40, 60, 100+k a year.
