If your IQ is less than 120, you’re too stupid to receive a government backed student loan.
This entire problem could be solved by getting government out of the student loan business.
Make your case to Wells Fargo or B of A. Let them make a business decision on whether they believe you’ll be able to pay it back.
This will cut in half, at least, the number of freshmen each year.
I think we need to bring back something like indentured servitude. They have it in ROTC, i.e. your schooling is paid for but you have to serve a tour of duty.
Why can't any corporation, not just banks, be allowed to loan money to students in exchange for requiring them to work a certain number of years for that corporation?
I know that 'indentured servitude' sounds awful, but if it's just a loan paid back by work rather than money, what's so bad about that?