[freediverx]

The main problem with American higher education is the profit motive. As is often the case, capitalism eventually ruins everything, especially when it’s treated as the state religion.

[bulldog13]

It doesn't work because the state interfered. College is so expensive because of federally guaranteed loans. This means colleges can charge any price they want because the student has access to any sum of money.

[nobodyandproud]

Depends what you mean by interfered. The government subsidized loans as far back as the 1960s, and this I remember clearly.

Not having to pay interest while in school was very helpful to someone like me.

Somewhere around the 1990s to the early 2000s is where things went awry, but it’s also around the time colleges became more (too) accessible.

While colleges set entrance minimum standards, who determined loan eligibility and size in the 1980s and earlier?

Was it the lending institutions?

[l0wp1t]

This is the #1 problem

[baby-yoda]

I think the profit motive is downstream from the root causes. There are MANY issues with higher education at the moment. IMO, federally backed loans which can't be discharged in bankruptcy is the single worst factor.

[SideQuark]

Without this protection loans become more costly since you'd move risk to lenders. Where else can an 18 year old get an unsecured loan for this amount and rates? Nowhere, for good reason.