The rise in student loan debt can alternatively be explained by increasing concentration of wealth in the hands of a few people. In the past (e.g. 40 years ago

The rise in student loan debt can alternatively be explained by increasing concentration of wealth in the hands of a few people. In the past (e.g. 40 years ago corresponding to a graduation date ~20 years ago), more families were able to save enough to cover the true cost of 4 years of college. Now many families are living paycheck to paycheck, and cannot create an emergency fund, much less a college fund.