But universities need the tuition to support ever more bloated administrative hierarchies and salaries. Most are in a state of abject panic because international graduate enrollments (a cash cow) are way down in the past couple of years. Staff layoffs are starting to happen, which were previously almost unheard of.
replyNo, moral is to make student loans subject to regular bankrupcy. Student should be also able to get refound, if university misrepresents or lies about their job prospects!
replyUniversities are business as any other!
That would be a reform I'd get behind.
replyAt the same time, it's still a bad use of funds, and lenders likely wouldn't have the ability to discriminate based on likelihood of bankruptcy or success in an academic program. So it just shifts costs from the student unlikely to succeed to the lender and students likely to succeed.
At that point you don't have a loan, you have a subsidy. That's OK though, many countries do have that.
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