@djc it’s not at all about what the college receives. as you say, it’s about what the student pays, which becomes disconnected from what the college receives. what the college receives plus interest sets a max on what students pay, but that will often be much more than what students ever repay.

once what colleges receive is decoupled from what students repay, then obviously students can’t be the providers of price discipline. the state will have to take up the role.