The costs of college have been noted: tuition is steep (scholarships can assist with this), but what about living expenses? Specifically, rent in Ann Arbor is incredibly expensive, and this leaves students with a burden of an expense, one which is rarely covered by aid. Room and board at Michigan is nearly $11,000. It is extremely difficult for students to get this portion covered in aid.
This leaves students scrambling for options: they likely search for off campus housing, which can be very far from campus, and have subpar living conditions. Part of the reason these costs are so high is that the market is a monopoly of sorts - there is no competitor with very low prices (dorms are expensive, and so is off campus housing). With the difficulty of obtaining college housing grants, a better solution must arise.
My question to the caucus is: without handing out money for payments, do you see a way for a new competitor to enter the college housing market at an affordable cost to students, one which could also drive down others prices?
Also, do you see a way for this organization to still return normal profit?