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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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[–] cyclohexane@lemmy.ml 16 points 1 year ago (2 children)

I hate capitalist economics, but the ease of obtaining student loans is one of the reasons for the high price of college tuition.

If student loans didn't exist, then most people would not be paying outrageous tuitions. Colleges will be forced to accomodate.

[–] Kelsenellenelvial@lemmy.ca 5 points 1 year ago

Canada recently stopped charging interest on their student loans, that goes a long way to affordability. The other thing though is just plain cost of education. It can be cheaper to get a 4-year degree from a Canadian University than take one year of a comparable program in the US.

[–] Terevos@lemm.ee -1 points 1 year ago (1 children)

The ease of student loans would not exist without government backing. In a pure capitalism, this wouldn't be a problem.

[–] cyclohexane@lemmy.ml 2 points 1 year ago (1 children)

There's no such thing as capitalism without a state. It cannot exist.

[–] Terevos@lemm.ee 1 points 1 year ago (1 children)

Yeah. Anarchy doesn't work. No argument there. But the blame for exorbitant college tuition lies with the state, not with capitalism.

[–] cyclohexane@lemmy.ml 2 points 1 year ago (1 children)

I can agree that it lies with the state, but that doesn't absolve capitalism. It's the capitalist state, and we shouldn't separate the two.

[–] Terevos@lemm.ee 1 points 1 year ago

Most of the activities of the state happen to be anti-capitalist though.

So.. Yes. We can separate the two because if the state ceased it's anti-capitalist activities, this wouldn't be a problem.