The reason why student debt is basically unheard of in Denmark since college is free (although to make that happen, the Danish government poses high taxation towards citizens like they do in order to maintain stable social security nets like subsidised healthcare and public housing, also why they have less homelessness).
Mainly Danish, Swiss and European citizens are eligible to study without stressing over student debt upon graduation. It stems from this: Danish government is more on for the people while American government is more on caring about themselves plus nepotism on the side (MORE & HIGHER TAXES TOO ON TOP OF THAT).
It worked in the US for many years…quietly. Ask Boomers, Gen-X, and probably Millenials how much their University of Puerto Rico education cost them, and you’ll mostly get a big fat $0. For a long time, UPR price per credit was closely tied to federal Pell grants. The grant check, which applied a vast majority of students, would cover credits and books most of the time.
Yeah that is what I said…
I was agreeing with you and providing a US based example.