Student debt didn’t explode because of reckless borrowing. It exploded because the government removed the risk.
The moment student loans became guaranteed, colleges saw a blank check. Tuition surged—not because value increased, but because funding was automatic. Whether a student graduated, dropped out, or failed, the money still flowed. That’s not education finance. That’s institutional entitlement. And the result is a generation crushed by debt for credentials that often don’t match their cost.
There’s only one sustainable correction: restore financial discipline. That means tying funding to outcomes. That means holding institutions accountable for results. And that means recognizing that personal responsibility doesn’t begin with forgiveness—it begins with ownership. Debt is not a collective burden. It’s a contract. And the system only works when it’s honored.