Eli Leher gets to half of the problem
here:
This would amount to an open-ended subsidy that would benefit many of America’s largest corporations (the universities themselves) forever.
The other half was addressed in Josh Barro's
post:
Consumers are not imposing discipline on the market in the way I would expect—they fail to shop around for the best education value, and sometimes they buy education products that are worth less than their cost.
Forgiving student loans prevents what needs to inevitably happen: We need to start getting our money's worth out of education.
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