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<p>You don’t know what the inflation rate will be in the future.</p>
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<p>Probably it should have more restrictions on subsidized loans to students at schools with high default rates (for-profit or non-profit). But otherwise unlimited subsidy of student loans will just encourage more students to take recklessly large amounts of loans in pursuit of their dreams, even when there is low probability of being able to pay them back in a reasonable time, while universities can continue to increase prices more rapidly than if students had to be more price-sensitive due to less subsidized student loans.</p>