>Remove this "free money guarantee" and watch how market corrects itself.
While I agree, I can't imagine what it would be like for the first generation of students under such change. The reason they are government backed is to make college a possibility to begin with.
First ones in line would probably get massively screwed, no?
> First ones in line would probably get massively screwed, no?
No, College education will become cheaper, mechanically. Right now, it's the government that is highly distorting the education market with that loan system under pretense of allowing everybody to get an education.
While I agree, I can't imagine what it would be like for the first generation of students under such change. The reason they are government backed is to make college a possibility to begin with.
First ones in line would probably get massively screwed, no?