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<p>This is exactly the sort of wrong-headed thinking which got us into this mess in the first place. Tuition is ridiculously high BECAUSE of the easy availability of loans which creates artificial demand. Before student loans became widely available in the 1970s, it was possible to pay for college or law school just by working a part-time job during the school year and working full-time in the summer.</p>
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<p>Only if the government were on the hook. If just the schools or private lenders were on the hook, then taxes would not be raised by even a penny. Instead, schools and lenders would admit and lend money only to people who have a good chance of finding sufficiently remunerative employment to pay their loans back. Which is exactly what we want to happen.</p>