The biggest moral hazard is in colleges. The boards of colleges justified higher expense structures in the name of trying to win a zero sum rankings game.
The best case for them is a lot of people wondering why they are paying $30k a year to watch online lectures while inflation wipes out the debt.
The worst case for schools is a total restructure due to lower revenue and donations due to students unwilling to overpay to sit at home and alumni not having the funds.
The best case for them is a lot of people wondering why they are paying $30k a year to watch online lectures while inflation wipes out the debt.
The worst case for schools is a total restructure due to lower revenue and donations due to students unwilling to overpay to sit at home and alumni not having the funds.
The future is no college degree at all.