 Emma, you've covered this a lot. Can you give us the sort of status of where student loan policy is both as policy and as a campaign issue? Are we going to see new big promises coming down the pike? Yeah, it looks like for the time being, attempts to do this sort of massive blanket student loan forgiveness has been tabled because it doesn't seem like the Supreme Court is going to let it happen. However, that does not mean that the Biden administration will not find a way to spend billions and billions of dollars for giving student loans because one of the rule changes that they made when they originally announced the blanket student loan forgiveness in 2022, I want to say, was changes to the income driven repayment program. This is kind of complicated and wonky stuff, but basically there are programs that you can have basically your student loan payment pegged to a certain percentage of your discretionary income. And the Biden administration changed that the most popular plan to be absurdly generous. So it used to be that if you were in this plan, your payments would be 10% of your discretionary income defined as 150% of the federal poverty rate and you would pay that for 20 years. Now it is 10 years of paying 5% of your discretionary income defined as 225% of the federal poverty rate. And so basically what this means is that people enrolled in this plan are going to end up paying back freakishly small amounts of what they actually borrowed. And what this means is that with this new IDR, federal student loans are basically grants, which is going to end up making the problem of colleges costing too much, particularly graduate schools, people borrowing too much, particularly for graduate school. If you want to hear this in even more detail, I have a feature about it in the newest issue of Wonderful Glossy Reason Magazine, but basically it's going to incentivize colleges to keep hiking their prices and cause what student loan crisis we have to continue to exist and get even worse. So this thing that's supposed to solve, quote unquote, solve the student loan crisis is in fact going to make it much worse, unsurprising. And one of the sort of interesting unintended consequences of this, Emma, you wrote about, is that it's not just that it's going to make higher education more expensive, period, and contribute to the student loan crisis, it's that it's particularly going to incentivize students to go into low quality, very expensive degree programs, right? And so in the way that these subsidies often sort of end up, they make things cheaper, right? Like that's what they do. And so what they end up doing is saying is giving people incentives to go into very expensive programs that do not necessarily pay off, where you are spending 90 or $100,000 on a degree and then coming out and getting a job where you're not making very much money, but that can work in this environment because the way the income driven repayment program changes work is that you pay back a lot less. And so it just means, well, okay, that degree suddenly, it's removing price signals from the system in a way that's going to make things worse, I think for some individual students, but also going to probably reduce the quality of at least some number of degrees over time. I would like to see a Truth and Reconciliation Commission with student loans so that if you get forgiven, you have to sit down across the table from taxpayers who didn't go to college, who paid for you to go to college, and kind of just work things out. What's great about MSP, which I recommend everybody read, is that it focuses on graduate school, back when I was going to graduate school, you didn't basically, you didn't go to grad school unless grad school was paying for you, and then there were, you know, and that's actually a pretty good, you know, kind of metric, especially if you're talking about trying to get into academia and things like that. But the vast multiplication of kind of MA programs in particular terminal MAs that people think they need in order to get a good job now, because you hear this all the time that, oh, you know, graduating college is like what graduating high school used to be. It's just not true. And we already have so many people clogging bullshit MA programs for certification and things that they don't actually need. You know, it's huge. And that's such a big factor in the the top line number of student loan debt when you hear it. And it also throws in people who go to law school, and people who go to medical school, and it's like, fuck them, they are doing something that they will pay for, you know, their jobs will pay for or not. But why anybody should be subsidizing something like that is beyond me. And I think Emma's story is good, because it really lays bare about the scope of a lot of that, but also the ways in which it is setting up a future problem by incentivizing people, you know, not not people, but subsidizing marginal programs with degrees that are really not worth what they already cost. That was a clip from the latest episode of the reason round table. To watch another clip, click here. To watch the whole episode, click here and make sure to subscribe to the reason roundtable. You'll be glad you did.