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Income-contingent loans are a possible solution. Under this policy, the government would lend money to students for tuition, fees, and basic living expenses. After the students graduate or leave school, they would repay their loans as a percentage of income over a 20 to 35 year period, depending on the debt level. Interest would no longer accrue after one-half of the loan term passes. If there's debt remaining after the loan term period ends, the government would cancel the balance.
Income-contingent loans are a possible solution. Under this policy, the government would lend money to students for tuition, fees, and basic living expenses. After the students graduate or leave school, they would repay their loans as a percentage of income over a 20 to 35 year period, depending on the debt level. Interest would no longer accrue after one-half of the loan term passes. If there's debt remaining after the loan term period ends, the government would cancel the balance.
I would add the caveat of a severe limit on all other assets if loan is forgiven. permanently (far less than normal home equity, and no cars where selling price new exceeds one year of a private college tuition (average)). In addition, disallow them from co-signing on any other loans for life if loan is forgiven. Prove permanent extreme hardship, or continue paying for life if need be.
What classes should not be required? Perhaps gym classes, but what else?
Classes you will not use in your field. All degrees require electives that do nothing toward the student's chosen field. Why require three Algebra classes for someone wanting to teach history, for instance, or for Psychology or Sociology degrees? Two thirds of the classes nursing students are required to take, have no use in nursing.
I am presently taking college classes. Most of the classes I am required to take for a degree have no useful basis for most occupations.
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