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Comment by bsims | Hacker News Reader

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bsims·

Meanwhile student loan rates double tomorrow...

http://www.nydailynews.com/news/national/education-debt-mini...

...and the US Government is making more on student loan interest than Exxon profits.

http://www.huffingtonpost.com/2013/05/14/obama-student-loans...

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So on the one hand we schools that cost too much and complain about that, and on the other we complain when the money from the government that enables those high costs gets more expensive - this is crazy. The only way to lower the cost of universities is to dry up the credit available to students.

Or offer good education for less, but I know that's not the American way...

Yes, the current education system in America is due to a willful desire to increase the cost of college, because every American politician is a terrible person.

(One could educate oneself on the history of public college funding and the underpinning philosophies of the student loan to get a better idea of the massively complex economic situation, but I know that's not the American way...)

Like the health care debate... lessons learned from the rest of the world is not a topic up for debate.

That is not a particularly American phenomenon, we do it all the time in Australia... however there are often calls to stop the "Americanisation" of health care/education/workplace.

Thats just because credit is so cheap that the costs can go so high. If it was much harder to borrow money, I tell you the universities would never get away with such fees.

Which again goes back to one of the article's points of cross-economy borrowing on crack that was started a few decades back and will eventually get someone to pay for it.

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