The schools should also have some skin in the game. If a former student defaults on their loan then the school should have to eat part of the cost, and schools (or particular majors) with high default rates shouldn't be eligible for loans at all. This would fix the problem of irresponsible schools encouraging students to take on huge loans that leave them stuck in debt for decades.
Agreed but, if someone tried this you know the schools and media would blast this as "Party X Robbing from Education, hurting students, the next generation", etc. It's tiresome.
