Other countries offer plans that give students more time to repay loans or that make provisions for fluctuating earnings, so fewer borrowers default. read more
1. Get the government out of the college debt market. And i mean out, totally OUT; no debt guarantees, no interest rate regulations, no back-door debt forgiveness if you take a 'public service job', no nothing. (1) 2. Allow people who have college debt to expunge it in bankruptcy. read more
There's just one tiny problem: making college free probably won't fix the student debt crisis. "But an end to student borrowing is not on the horizon." As student loan balances have climbed higher and higher with each passing year, calls for making college tuition free at two- and four-year public universities have grown increasingly louder. read more
And if we raised interest rates, the economy would stagnate—making the debt burden even more onerous. So, this problem looks unavoidable, but also insoluble. Remember, though, that America has a $14 trillion economy that was, until recently, growing quite fast. We can find ways to address even this challenge. read more