The inflation happening right in front of us: government-backed student loans
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The acceleration in tuition costs in the past 30 years has a surprisingly simple origin, mostly stemming from
Title IV: Student Loan ERISA Provisions Subtitle A: Direct Student Loan Provisions Student Loan Reform Act of 1993 Amends the Higher Education Act of 1965 (HEA) to replace the Federal Family Education Loan Program, under which loans made by private lenders are guaranteed by the Government with a Federal Direct Student Loan Program, to be partially phased in over a five-year transition period.
Up until 1993, the federal government merely
guaranteed/backed student loans that