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Just as borrowers need to understand the risks they are exposing themselves to, voters need to understand the liabilities that governments are taking on when they subsidise students.
Leyonhjelm has said a 20% cut to subsidies was the very least necessary, arguing that taxpayers should not have to subsidise students for what is a "private benefit".
Some would make university education free again, but this may mean a sharp reduction in university places in order for the system to remain affordable, while certainly perpetuating a system where non-graduate taxpayers subsidise students of all incomes for the luxury of a university education.
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"The mistake is instead of subsidising students from non-traditional backgrounds, who are poor, they have actually subsidised the fees of everybody wherever they go.
Because the state subsidises student loans, ministers have imposed caps not only on the tuition fees universities can charge but also on the number of students they can admit.
This has put a spotlight on the fat margins of the $85 billion-a-year student-loan industry, where Sallie Mae's five-year average return on equity was an astonishing 52% per year.At present the federal government subsidises student loans in two ways.
Universities depend on foreigners to subsidise British students – nearly 20% of the output generated by universities comes from non-EU students.
The higher fees they pay at university subsidise domestic students.
But elite US universities also use their astronomical tuition fees, in part, to subsidise disadvantaged students.
His dealer told me that he recently gave £75,000 to St Andrews University to subsidise underprivileged students.
The NHS massively subsidise medical students and I think it is wrong that UK graduates aren't legally obliged to stay in the NHS after graduating.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com