[Vigilanteman]

I still have some sympathy for students who were sucked in to buying a defective product. If you buy a new automobile which turns out to be a lemon you can, for instance, demand a completely new replacement after several failed attempts to fix it.

In an ideal world, the government would get out of the student loan business completely and it would be privatized. Lenders would give a great interest rate to someone majoring in nursing, mechanical engineering or something with good employment prospects. They would have to charge a premium interest rate for someone majoring in ethnic or gender studies or any other of the pseudo sciences.

[Zeppelin]

This 26-year-old mechanical engineer agrees wholeheartedly!

That’s a very free-market approach. The well-paying jobs in high demand would be seen as less risky by lenders, so they would come with better interest rates. That would encourage students to gravitate toward those jobs, which in turn would increase the supply of those professionals to meet that demand.

It would be a self-regulating system, and our economy would be better off with it!