What Will It Take to Solve the Student Loan Crisis?
The history, size, and complexity of the student loan crisis, combined with the interlocking, interdependent higher education networks – universities, lending institutions, and government agencies – defy simplistic reforms and have largely immunized the student loan industry from having to make significant changes. These institutions and agencies have erected a financing superstructure that meets the immediate needs of students and universities for cash, but dramatically fails the test for long-term cost effectiveness and economic sustainability. We are long overdue for genuine, transformative reform. (mais…)