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Americans, how would you feel about making student loans completely illegal? (lemmy.world)

submitted 1 year ago by nodsocket@lemmy.world to c/asklemmy@lemmy.ml

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This would save young Americans from going into crippling debt, but it would also make a university degree completely unaffordable for most. However, in the age of the Internet, that doesn't mean they couldn't get an education.

Consider the long term impact of this. There are a lot of different ways such a situation could go, for better and for worse.

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[–] nodsocket@lemmy.world 4 points 1 year ago (1 children)

Not exactly. I'm saying that banning loans would lower the price of education, either through cost cutting by universities or by a new education system taking its place.

[–] ada@lemmy.blahaj.zone 4 points 1 year ago

But unless it's free, the majority of people wouldn't be able to afford it anyway. Remember most people live week to week with no savings buffer.