According to news sources, more money is owed on student loans than on outstanding credit card debt.
One student borrowed $255,000 to become a doctor and upon graduation owed an outrageous $555,000. Students are in debt for most of their working lives. This is a disgraceful situation that needs to be changed.
So what's an alternative?
The Department of Education should grant student loans at a simple rate of interest-- high enough to make the program self supporting and low enough for students to make substantial payments on the principal.
This and more in my recently published book, For A Better America:Observations:Insights and A Plan for Action by A Ninety Five Year Old American available at Barnes and Noble.com