Oh, because the 18 y/o kid with $5K in a loan that is forced into $100K in 20 years has no clout in Congress and cannot buy off the right pols.

You see, Mr. Banker and Mr. University President form a tag team to rake in massive profits with virtually no risk while financially screwing the student and/or his parents.

First off, did you know that student debt now exceeds credit card debt in America? Yes, we have crossed the Rubicon. Over $1T in student debt outstanding. Another intentional economic bubble has been formed. Just like it did with the housing market in 2007.

It works the same way. The banksters and the university presidents have formed a tag team to entice unworldly, naive 19 years olds to sign their financial lives away for a degree, many of which are near worthless in the job market. The university president fills a classroom seat and the bankster sells a government guaranteed loan to a kid who doesn’t have a pot to piss in or a window to throw it out of. The taxpayers are on the hook if the kid doesn’t pay. So the bankster couldn’t care less if the kid never pays it back since the taxpayer eats all losses. The bankster just gives a student loan to anyone willing to sign his life away.

On top of that – the naive student is not protected by US bankruptcy law. With most other debts citizens have a right to file for bankruptcy and ask a judge for relief if they lose a job, run into medical problems, etc… Not with student debt. It follows the kid to his grave. They got him right by the short hairs.

You see, in a capitalistic and ‘free market’ society the LENDER OF MONEY should be forced to eat any and all losses in the event that the borrower cannot repay his debt. This would force the lender to appropriately qualify the borrower BEFORE making the loan. The fact that the lender (bankster) provides risk-free money to poor candidates drives the price of education through the ceiling – since college costs are, like most other things – determined by supply and demand. If student loans were only provided to QUALIFIED borrowers it would cut college enrollments by half. As a result, tuitions and fees would fall accordingly.

It is the STUDENT DEBT LENDING BUBBLE that keeps the prices high and makes them go continuously higher.

Again, it is NOT the bankster who make these defective loans who is at risk. The bankster and the university president make out like fat cats.

It is the America taxpayer who carries the entire risk while the banksters and the university presidents rake in all the profits.

You see, it is the corrupted corporate-government pigmen who win again.

While univerity executive and faculty salaries are grossly excessive – it is not the main driver of education costs.

If only the media would report all the underlying facts on what is driving higher education costs.