Nay, a tumblelog.

Why college is so expensive

High tuitions are no fluke. They exist as a direct result of government-guaranteed student loans. Without such loans, tuition could not rise beyond students’ or their families’ ability to pay. Because students have almost unlimited access to credit, universities are able to raise tuitions without the limits market discipline would otherwise enforce.

Any item for which consumers receive a subsidy to buy will naturally be more expensive with the subsidy than without it.

Peter Schiff - Crash Proof


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