Poorer students take out larger loans and will have to contribute more to the cost of higher education.
Sentiment: NEGATIVE
The rising costs of higher education coupled with the stress of paying student loans are putting increasing pressure on students.
The higher amount you put into higher education, at the federal level particularly, the more the price of higher education rises. It's the dog that never catches its tail. You increase student loans, you increase grants, you increase Pell grants, Stafford loans, and what happens? They raise the price.
If there were no government-guaranteed student loans, college tuition would be much lower.
For-profit higher education is today a booming industry, feeding on the student loans handed out to the desperate.
We need to make college affordable in price, and also have lower-cost student loans and more available grants for students.
Student loan debt is the reason I don't advise students who want to become entrepreneurs to apply to elite, expensive colleges. They can be as successful if they go to a relatively inexpensive public college.
By making college unaffordable and student loans unbearable, we risk deterring our best and brightest from pursuing higher education and securing a good-paying job.
Over time, my students have gotten richer and more educated.
Unequal funding resources also results in unequal educational opportunity when you consider studies that show that one half of low income students who are qualified to attend college do not attend because they can't afford to.
College gives people learning and also takes away future opportunities by loading the next generation down with debt.
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