Re:Bitcoin Breaks $60k
by etrautmann on Saturday March 13, 2021 @11:42AM
(#26447711)
I think the situation with grade inflation and loans, and the set of incentives in higher ed is a little more nuanced that you're portraying here. Universities have always had to compete for students, and the argument that the incentives pushing for student retention would disappear if student loans didn't exist seems speculative and unsupported.
Student loans are responsible for destroying academic integrity. Schools raise tuition because the government is paying for it. Students will be left with the debt after graduation but by that point they are no longer the school's problem. They also do everything possible to prevent students from dropping out, including interfering with the work of teachers. School administrators are getting rich off of the trilions of dollars being injected into the economy. Meanwhile privileges such as tenure are being abolished because they don't serve the administrator's interests.