Asymmetric Information and Student Loan Responsibility
Student loans have been decried by progressives for saddling an entire generation with debt in ways that are exploitative and fail to maximize welfare. They’ve got a point. The level of college debt has contributed to many millennials’ struggle to invest in productive businesses or start families. At the same time, students continue to be incentivized to take out loans they would otherwise not take, and prevents competitive markets from adjusting rates to risk.
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