Do the Poor Really Pay More?
There’s a trope out there that goes something like this: “Loans are unfair because interest on the loans means that needy students pay more in total to go to school than students who don’t need a loan“. If it were true, this would indeed be problematic. But the thing is, for the most part, it’s not. Let’s follow two hypothetical students: Claudia and Eveline. Claudia can manage to pay $25,000 for her four years of tuition, upfront; Eveline cannot, and