BS. I got a job and laid mine back. If a millennial wants to rack up $50-100k to get a worthless degree that makes them feel good, that’s on them.
So, how about this:
1. Get the Dept of Ed out of the loan business completely
Or, if they want to stay in it
2. Only loan for those wanting a STEM degree. Everyone else gets it for a private lender
Tuition costs will drop like a rock and the number of Pre Roman Feminsit Studies graduates will fall dramatically.
Stop telling parents how much they have to borrow. That just assumes borrowing, and they do it because they think they have to or it is expected.
Just give the costs and the amount of the grant, if any, and work-study amount. Let the parents decide whether to borrow, work harder or get a second job, or send the kid to a cheaper school.