Student Loan Debt - Top 8      Log in to create answer


Reduce college years to 2 or 3

Are 4 years really necessary to complete a good education? The first year or two are usually filled with electives to provide a "well rounded" education. But at what cost? Consider: If student takes on $5k each year for school. Then after 4 years, the student begins life with a debt of $20,000. However, what if the degree can be completed in 3 years. The student then begins work at the end of 3 years at a salary of $40,000. At the end of the 4th year, the student has earned $40k and his loan is a little less than $15k. The 3 year program puts the student in a vastly improved financial situation.

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Hold the college partially accountable

Colleges are happy for students to receive student loans. As long as students continue to tap into this vast debt pool, it encourages colleges to continue raising tuition fees. This detrimental cycle is currently in action. WHAT IF - If a student defaults on his loan down the road, WHAT IF the college was partially held accountable? Assign the college 30% of the loan responsibility and let's see how readily they allow students to take out loans to finance a $120,000 degree on world history. Let's stop the madness.

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