numberwang on 19 December 2016
One idea: make it possible to default on student debt like any other debt with a 7 year grace period.
Of course that would dramatically change lending as most students would have an incentive to declare bankruptcy immediately after college (as you can't repo a college degree).
Lenders would stop giving large amounts to students in particular for low paying degrees. The market of student lending and borrowing would come down more to the level of credit card debt where risk governs the amount.
Of course colleges would have to get cheaper bc there is less money to get from the students but that is no problem, most staffers are paid very little, some lectures can be put online, administration can be computerized and streamlined etc.
