>> If the money comes from a third party, the uni gets the money regardless and doesn't need to care. The lender can't be defaulted on, and so they don't care either.
This is exactly the problem. The government guarantees "student loans" made by 3rd parties. Tuition costs have seen huge inflation over the last 25 years, second only to medical costs in the U.S.
I also don't think students realize simple things like... Since money is fungible, that $5 coffee is also being paid for by the loan. They're really borrowing to pay for their lifestyle as well and don't think about that.
This is exactly the problem. The government guarantees "student loans" made by 3rd parties. Tuition costs have seen huge inflation over the last 25 years, second only to medical costs in the U.S.
I also don't think students realize simple things like... Since money is fungible, that $5 coffee is also being paid for by the loan. They're really borrowing to pay for their lifestyle as well and don't think about that.