Another sign of the apocalypse… Rome collapsed when its leaders resorted to huge political handouts to hold power.
The core problem here is that we allow 18-year-olds to take on debt that is funded by the government and cannot be discharged in bankruptcy. Eliminate all of the government lending programs for college.
Far less people should be going to college anyways, 18 to 22 is some of the most productive years of our lives and instead it’s wasted sitting in classrooms and getting drunk. College makes sense for someone getting an engineering degree or going into a science lab. It doesn’t make sense for all the social science degrees and even for business degrees like mine from UW which was pretty useless.
Welcome to more socialism, the government reaching deeper into your pockets, and higher inflation.