You're probably being downvoted because you're just assuming everybody knows what you mean. For somebody who doesn't it's going to be a nonsensical statement. The issue is that the government mandated banks enable easier access to loans for housing, as a means of resolving prior housing issues.

But what happens when you suddenly start giving a bunch of people the ability to go arbitrarily far into debt to buy something that they perceive as priceless (because housing, and most any other 'thing' tends to endlessly appreciate in value in an inflationary economic system)? Obviously prices skyrocket. The exact same thing happened with education for the exact same reason.

I wouldn't mind seeing education return to its roots of being about learning instead of credentialization. In an age where having a degree is increasingly meaningless in part due to many places simply becoming thinly veiled diploma treadmills (which are somehow nonetheless accredited), this is probably more important than ever. This is doubly so if the AI impact extremists end up being correct.

So why is the issue you described an issue? Because it's about a grade. And the reason that's relevant is because that credential will then be used to determine where she can to to university which, in turn, is a credential that will determine her breadth of options for starting her career, and so on. But why is this all done by credentials instead of simple demonstrations of skill? What somebody scored in a high school writing class should matter far less than the output somebody is capable of producing when given a prompt and an hour in a closed setting. This is how you used to apply to colleges. Here [1], for instance, is Harvard's exam from 1869. If you pass it, you're in. Simple as that.

Obviously this creates a problem of institutions starting to 'teach the test', but with sufficiently broad testing I don't see this as a problem. If a writing class can teach somebody to write a compelling essay based on an arbitrary prompt, then that was simply a good writing class! As an aside this would also add a major selling point to all of the top universities that offer free educational courses online. Right now I think 'normal' people are mostly disinterested in those because of the lack of widely accepted credentials, which is just so backwards - people are actively seeking to maximize credentials over maximizing learning.

This is one of the very few places I think big tech in the US has done a great job. Coding interviews can be justifiably critiqued in many ways, but it's still a much better system than raw credentialization.

[1] - https://graphics8.nytimes.com/packages/pdf/education/harvard...