Here are some solutions to the student loan crisis, but first, understand the cause, limitless risk-free lending that fuels tuition inflation. So, end government backing and let the banks carry the risk. Second, ease the bankruptcy law. Currently one must be homeless, terminally ill, and have a history of payment in order to get a discharge. Third, take the government money that is currently used for the guarantee and spend that money directly on public colleges so that tuition can be as low as possible, if not free,as CUNY was long ago. Thus competition from public schools will pressure private schools to keep tuition low. Until then, urge the young to get practical educations at the Community and SUNY colleges.
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