red sox 777 posted... Usually it's the state governments that own their own public colleges. So if the federal government is paying, the states still have an incentive to raise tuitions to the stratosphere.
Also, in many cases (certainly for the University of California) the public college effectively governs itself. UC receives something like 15% of its funding from the state at this point, and is basically entirely self-governing. It's a private university in all but name.
Well, there are 3 parties to a student loan, right? A student, who is probably about 18 (barely over the age he can enter into a contract binding on him at all), a lender, which is the government or a bank of some sort, and a college. I see 2 sophisticated parties and 1 very unsophisticated party. If the school accepted him with epilepsy and the lender lent to him knowing about it, I think the consequences of that decision should fall on them.
Just like if a bank lends to XYZ corporation and XYZ corporation declares bankruptcy, too bad for the bank! Caveat emptor as they say.
You realize the bill for this could just include what the states charge the government. Supremecy clause gg