Re:Some U.S. Colleges Cut Tuition
by dragonwriter on Monday December 21, 2020 @03:38PM
(#25499284)
> Here's one idea: Cap the amount that all student loans can collect at something like 15% of taxable income, for max 20 years after signing. After that they are written off.
Make it the 10% of discretionary (not gross), and up the limit to 25 years of any of the loans covered graduate or professional study, and you'd have an existing option for current federal student loans.
Make this the only option for federal loans, remove private loans from the protection against bankruptcy discharge, and you the job is done.
> But let the lenders see everything -- school, major, test scores.
Private lenders can, AFAIK, already put terms like this in contracts if they want.
Make it the 10% of discretionary (not gross), and up the limit to 25 years of any of the loans covered graduate or professional study, and you'd have an existing option for current federal student loans.
Make this the only option for federal loans, remove private loans from the protection against bankruptcy discharge, and you the job is done.
> But let the lenders see everything -- school, major, test scores.
Private lenders can, AFAIK, already put terms like this in contracts if they want.