A father writes:
It seems ridicoulous that tuition has gone up 500% in the last 20 years when the cost of computers has decreased, the capability of computers has increased 100 fold, and information has in fact become more more available (wiki has come of age in medicine, at least).
It’s a result of the increased market liquidity caused by ubiquitous student loans. Get rid of the student loans program and tuitions would plummet. And teaching young people to go into debt immediately is lame anyway, though given who pays for Congressional and Presidential elections it’s no surprise that putting young people into crushing debt is national policy.
Same with Freddie Mac and the mortgage interest deduction: they inject artificial liquidity into the housing market. Abolish both of them and watch homes become instantly affordable across the country.