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14Aug
EconomicsEducationOpinion

It’s government, stupid: the economics of university debt

The persistent increase in university tuition costs is now commonplace in student life in America and beyond. A sizeable portion of the US student population agitates for state intervention, in the form of loan reform, to remedy the financial difficulties of those burdened with outstanding loans, while others engage outright in debt resistance—such as the 2012 Strike Debt movement. Initiatives like these, though, conveniently neglect the economic principles elucidating the underlying causes of bloated college tuitions and consequent loan debts. The ultimate responsibility for skyrocketing tuition fees is state interference in the economy, not, as is often claimed “market failure”.