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College and University Discussion
Reply to "When will the college tuition bubble burst?"
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[quote=Anonymous][quote=Anonymous]The high cost of tuition is driven by the availability of federal loans to fund it. The Department of Education could put a brake on the rising costs by imposing rules on schools for eligibility, including limiting the price tag, for tuition or for other expenses. [/quote] Oh my gosh - this is so true. I remember when I was in law school, the max yearly subsidized federal loan amount was about $30K, so the yearly tuition/costs were (surprise) about $30K for several years. Soon after I graduated, my bar association sent out an announcement that it was very proud to have successfully lobbied Congress to double the yearly subsidized loan amount to "maintain the ability of students to keep up with rising costs" and the yearly tuition/costs rose for my law school quickly went to (surprise again) $60K. [/quote]
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