Govt intervention seems to almost universally lead to negative consequences. You left out the fact that the govt got involved in the student loan process at that same time frame.Biggest thing that happened in the late 80s and 90s till now is the push for everyone to go to college. Before this only the smartest people attended college because of entrance exams and GPA requirements. So what happened? Well 2 things, colleges and universities added a whole bunch of BS EZ mode degrees that dont apply to any real world jobs and eased up on the entrance stuff. So now they can extract moneys from everyone. And of course every parent wants their little Timmy and Joan to attend college because they think that when done they will be scoring those high paid jobs. Well this shit does not float if Timmy takes Photography and Joan takes Theatre Arts.
This lead colleges and universities from being affordable, to being out of reach of 99% of the general public.
In 1995, my friend asked our boss for a $0.25 cent raise because he wanted to afford college. Boss asked him how much he needed? Cost of tuition AND books for a semester at Ole Miss was $1,500 during the summer. Tuition and books are well over $10,000+ today.
You have one demographic that was able to pay for college with part time jobs, and now you have a demographic that will take decades to pay off their degrees....all brought on by the fucking federal govt getting involved with massive programs to ensure students left with mountains of undischargeable debts.
And to exasperated the problem even more, companies began requiring degrees just to get entry level positions. Unless you are in a medical , science , engineering, and maybe law field, a degree damn sure wasn't necessary to be employed.
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