1)Make student loan interest straight interest.
2)when taking out a student loan you will be given the interest rate (fixed) and payment amount up front just like ypu would if taking out a car/house loan.
3)Each year is a separate loan. It would be set up like having mulitple car loans. If you cant pay it with the avg salary of your future job you can’t get it approved.
There is no reason people shouldnt be able to pay these back. For instance, my $62,000 in loans has a payment of $600 a month and only $2 goes to principal. The interest rate is only 6.8%. More of my payment should go to the principle.
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I say just get the government out of the student loan business entirely.