Student loans need to be means tested and able to be part of bankruptcy. Those taking out the loans need to prove the ability or future ability to pay them back.
A few years ago I was talking to a friend and asked how he was going to handle college costs.
He blithely said they were going to do all loans. When I objected to the wisdom of that he said they were interest free so why not. He was amazed to find out from me that they are certainly not interest free and for some, interest begins to accrue the moment you get the money. Theoretically you will be amassing four years of interest before making the first payment.
One of my kids took out some loans, both from me and the system. He went into a career field that paid enough to allow him to be debt free within a year.
Parents who take out parent plus loans are nuts. At least with student loans, the student is responsible and not the parent.
My Daughter did her General Education at Community College at Night for free while working, then transferred to Radiology School, which was also FREE with the Grants and Scholarship she got, She already had a PAID for House that I bought for her with her inheritance when my Father died, I paid her living expenses for 2 years, about 25K.
She has a Great Job working in the Emergency Room, and can go to ANY Hospital and start work tomorrow if she wants to.
Student loans are just like most borrowing in this country today (including credit cards); they are a means for someone to experience a lifestyle that has eluded most Americans for decades. They are creating a bitter, broke, childless population of middle-aged leftists...
My daughter and sil started a college savings account ,for their kids, as soon as they were married. All 3 will be able to go to college without any loans or financial aid. They’ve been really smart with their saving.