Student debt is a problem.  In 2019, Americans owed $1.56 trillion on student loans.  Undeterred, every year, students pile on more debt. One study holds that while students who graduated in 1993 had an average loan debt of $9,320, students in the class of 2019 had an average loan debt of $29,900, a 221% increase.  Over the same period of time, inflation grew by only 79%. This increase is due, in significant part, to free money, which has made both universities and students go on spending sprees.  FEE explains: Secured financing of student loans resulted in a surge of students applying for college. This increase in demand was, in turn, met with an increase in price because university administrators would charge more if people were willing to pay it, just as any other business would (though to be fair, student loans do require more administration staff for processing).  According to Forbes, the average...(Read Full Post)