One more example why "let's fix the problem by providing cheap money" never actually fixes the problem.
The "cheapness" of the money will just be priced into the goods (houses or education in this case).
(As an aside, the same is true for the tax-deductible interest on mortgages nonsense. People think they actually save money, when in fact that advantage is immediately priced into the houses.)
Where I am from university education is free. Of course seats are limited, so you need to be reasonable smart (but by no means a genius) to get in. Not ideal either, but at least your education is not defined by your wealth or your willingness to go into debt.
(As an aside, the same is true for the tax-deductible interest on mortgages nonsense. People think they actually save money, when in fact that advantage is immediately priced into the houses.)
Where I am from university education is free. Of course seats are limited, so you need to be reasonable smart (but by no means a genius) to get in. Not ideal either, but at least your education is not defined by your wealth or your willingness to go into debt.