July 30, 2010
Limits should be placed on amount of loans provided to students by the government:
1) Limit the maximum life time amount that may be borrowed by a student.
2) Limit the maximum accumulated loan amount based on a percentage of completion of their school work.
3) Require students to maintain a certain grade point average in order to obtain loans.
Too many students graduate with burdensome debt and/or fail to pay off their debt. In an ideal world, people would not need big brother assuring they act responsibly. However, many young (and older) people do not understand the obligation that they incur with student loans.
There are other ways to pay for school than loans. There are grants, scholarships, co-op programs, jobs, etc. The government student loans should be a last resort or at most a temporary bridge.