I am more in favor of raising interests on these loans due to high default rates and discourage people getting loans.
Extra premiums should be layered for those going to work for the government in any form or obtain majors with no career path like wimin studies, homo studies, art history, etc to discourage people even thinking about selecting those majors. Discounts for Science, Engineering, Mathematics. Neutral on Business and the like.
“Discourage people from getting loans”
But the whole system is organized around these loans. Tuition and fees are 15X what they were twenty years ago BECAUSE of the loans. High school juniors are competing with each other ferociously to get accepted at places that cost $60K/year BECAUSE of the loans. Banksters are becoming billionaires BECAUSE of the loans. Party organizers in the Hamptons are in unprecedented demand BECAUSE of the loans.
If you discourage the loans, hundreds of thousands of leftist wormtongues will be out of work, and we can’t have that.