When the federal government and state governments keep putting more money in the hands of students, there’s no downward pressure on prices. Colleges and universities can increase the cost of tuition at twice the rate of inflation because beleaguered parents and students will keep finding some way to pay for it, even if it means graduates start out post-college life in deeper and deeper debt.
After all, despite the fact that the Supreme Court struck down Biden’s initial student-debt-relief plan, Biden has still canceled $168 billion in student debt so far this year — transferring those costs from the borrowers to the U.S. taxpayer.