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Too complicated. I would make a rule that any Bachelors program costing more than 15k is ineligible for student loans. Magically those $60k programs will fall to $15k.

The reason college is so expensive is because that is what people are willing to take loans to cover.

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Then kids from poor parents won't be able to go to the top programs because the top programs won't reduce their rates because they will still be able to get their high fees from rich parents and they won't want to make their school worse at least perceptibly so if they have to cut a bunch of costs.

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