As for the forgotten consideration, isn’t it about time that the government asked for its money back from the schools that failed to produce outcomes that justify the expense? Much has been made of a plan to punish those colleges and universities with high cohort-default rates (post-graduation loan defaults) and even sub-par completion rates (roughly half of all college students end up earning a degree). But that’s on the come. What about the taxpayer dollars these schools have already banked? Wouldn’t it make sense for the feds to claw some of that back?
With all that in mind, here’s the real question worth contemplating: To what extent would any of these relief strategies even be necessary if loan interest rates were fairly set, repayment terms were appropriately lengthened, and higher education institutions were held financially accountable for their results?
Now that would be a study worth undertaking.