[animefan]

Both equity and debt have an element of moral hazard, and both provide some incentives to make the efficient choice about whether to get an education. A student taking on a loan for education (Australian style or otherwise) might make themselves worse off if their future income change from education is sufficiently low.

In my opinion, returns to college education are so high that the focus should be on having as many people go as possible, not on selection the efficient subset.

[saint_fiasco]

>the focus should be on having as many people go as possible.

There is only so much college to go around, and it makes sense to try to use the limited amount of college in an efficient way.

Do you think more colleges should be built?

[animefan]

yes I think more colleges should be built, or existing colleges should expand.