The colleges today are flush with large endowments. Why should the tax payers be saddled with, in effect, guaranteeing student loans with the possibility of a President attempting to cancel the student debt?
The proposal is that the colleges should lend the money to their students out of their endowment funds. This will put the responsibility on the colleges to provide the students with degree offerings which should have a better than even chance of legitimate wage paying work for their graduates and debtors.
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