Aren't the rates set by the government? At the very least, there should be ways for some of it to be forgiven for specific reasons, health reason would be on top.
Also, there are some programs where people who work for the government can get loans forgiven after a set amount a years. Maybe a similar thing (through tax breaks) could be implemented to help employers pay student loans with the student.
But the best solution is by far reduction of tuition. I'm glad I went to school in Florida, tuition was very low for a state that isn't very egalitarian usually. Education is something I feel they are doing much better than others. I now live in Canada and I see American students come here because the out of country rates are cheaper than their in state rates. And I'm all for free markets and all but the reality is, education is far from a free market. Highly subsidized and yet they still charge crazy rates for tuition. Harvard is now cheaper than some states schools, that's ridiculous.
Aren't the rates set by the government? At the very least, there should be ways for some of it to be forgiven for specific reasons, health reason would be on top.
There are for at least some reasons. There are both student loan forbearance, deferrment, and forgiveness programs available. Deferrments seem relatively easy to get (I have one currently while I attend grad school).
Forgiveness programs seem very stringent and limited, but they do exist for certain forms of public service and for extreme hardship. There are deferrment and forbearance programs for temporary hardship though and income based repayment plans.
Well I was really referring to students who's parents are making less then 120k if I remember correctly, tuition is now waved. Effectively making it cheaper. I do not know how many percent of their student body fits this but those who's parent make more than this should in effect be able to afford the tuition rate.
Tuition may be waved, but cost of living expenses might actually be higher than tuition + living at a state university. Private universities charge a ton for housing + food.
Also, there are some programs where people who work for the government can get loans forgiven after a set amount a years. Maybe a similar thing (through tax breaks) could be implemented to help employers pay student loans with the student.
But the best solution is by far reduction of tuition. I'm glad I went to school in Florida, tuition was very low for a state that isn't very egalitarian usually. Education is something I feel they are doing much better than others. I now live in Canada and I see American students come here because the out of country rates are cheaper than their in state rates. And I'm all for free markets and all but the reality is, education is far from a free market. Highly subsidized and yet they still charge crazy rates for tuition. Harvard is now cheaper than some states schools, that's ridiculous.