Colleges Spend Like There's No Tomorrow. 'These Places Are Just Devouring Money.'

[MichMan]

3. Regardless of how much they raised tuition, students just continued to take out more loans

Under the PAYE guidelines where the student loan payments are capped and subsequently forgiven after 20 years, regardless of how much was borrowed, will only cause costs to rise even more. Students will have the same monthly payment whether they borrow $20k or $70k, so they really won't care any longer how much they are being charged. Under that program, there will be an incentive to borrow the maximum amount possible, and one would be a fool to use any savings. Once colleges figure that out, I expect tuition costs to rise much faster than they have been.

Imagine how much they will charge once college is "free" and the taxpayers are stuck with the entire bill.