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Fstmiddy t1_j4ygp4w wrote

Reply to comment by IrrumaboMalum in In first act as governor, Josh Shapiro opens Pa. jobs to people without college degrees by OhmyMary

Don't blame government, blame servicers. They lobby both sides of the aisle hard for a cut of lenders money.

https://www.opensecrets.org/news/2021/08/student-loan-companies-spend-millions-lobbying-amid-extended-moratorium/

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IrrumaboMalum t1_j4ykqi9 wrote

The government is at fault for creating the gravy train in the first place. They wanted to "open up" college for everyone, so they started guaranteeing loans. People went from graduating with little to no debt by working part time while going to school to graduating with decades of debt so the "non-profit" schools can rake in that sweet, sweet government money.

Yes, I do blame the government. They created the problem in the first place. The servicers exacerbated the problem for sure - but they were never in the position to create the situation they took advantage of.

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StupiderIdjit t1_j50dkbm wrote

"I can't afford to go to college." "Here, have some money." "THIS IS ALL YOUR FAULT."

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ItsjustJim621 t1_j50tefk wrote

To a degree. It would’ve been one thing if these loans were interest free…but they’re not.

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IrrumaboMalum t1_j538uhq wrote

Government-backed loans should be interest-free.

Private lender loans shouldn't be interest-free.

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IrrumaboMalum t1_j538shp wrote

S: "I can't afford to go to college."

G: "Here, have some money."

C: "Oh? The government is giving students money now? Well then...let's increase tuition!"

S: "I can't afford to go to college again!"

G: "Here, have some more money."

C: "Sweet...tuition increases coming!"

Repeat ad infinitum until we reach where we are today.

Yes, it is the government's fault.

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StupiderIdjit t1_j539k46 wrote

It's not the fault of... I dunno... The people raising the price?

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IrrumaboMalum t1_j53ain7 wrote

Government created the situation that others exploited. Full stop.

Stop licking the jackboot.

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StupiderIdjit t1_j53aspr wrote

So maybe people... Shouldn't exploit it?

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IrrumaboMalum t1_j53ceqt wrote

It is human nature to exploit situations like that that are ripe for exploitation. Similar to when price controls are implemented in response to inflation, so people go out and horde the basic necessities.

We will never overcome human nature.

So the government is still the root cause of the problem. They created the problem. Schools did what every business, and yes schools are a business, does when a huge pool of new customers is opened to them.

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