One wonders how much lower student debt would be if “nonprofit” schools limited the wages paid their staff and administration. I am not saying that the state should dictate what any private school pays, but there should be limits on salaries if one wants the tax free nonprofit status.
Our government should not be allowed to tell Harvard how much it should pay its president, but if Harvard wants to enjoy tax free status, there should be a limit of how much a nonprofit pays its executives – and staff.
Every dollar that Harvard does not pay because it is “nonprofit” is a dollar that comes from another citizen of the Commonwealth.
If we want to address the high cost of college and the problem of student debt, ignoring this part of the problem is evidence of who is in control of this mess, and who prefers to look the other way.
…and then we can move on to the cost of textbooks whose copyright protections make a bundle for the few but cost our students billions of dollars a year. Public funding of textbooks would save us billions and lower student debt.