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A comment on Colleges at the breaking point, forcing ‘hard choices’ about education. Parent comment

Re:Colleges at the breaking point, forcing ‘hard choices’ ab... by labcomputer on Thursday April 30, 2020 @05:42PM (#23036506)
> The interest rate would be very very high, as it should be.

The offered loan amount would be much lower, too.

There would be nothing to distinguish a student loan from any other unsecured personal loan (like a credit card), so the credit line would be similar. For an 18 year-old, that means the total amount over 4 years would certainly be less than $10k at an APR in the 20's to 30's.

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Re:Colleges at the breaking point, forcing ‘hard choices’ ab... by CamperBob2 on Thursday April 30, 2020 @06:25PM (#23036946)
The offered loan amount would be much lower, too.

Which is fine, because tuition, textbooks, and housing would be, too.

This is a crystal-clear example of what happens when government subsidies distort a market.

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