Is tax money used? Is anyone profiting from the program? Do colleges lose money? Please don’t make this political. I’d genuinely like to understand without all the talking point bullshit.
In: Economics
The government lent money to students to give to the colleges with the agreement the student will pay back the loan.
The college has already been paid.
Now there is just an agreement with the government that the student will pay back the loan. Since the government owns the debt, they are free to say “You know that money you owe us? We have decited you no longer owe it to us. we are all good, have a nice day!”
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