So many potential doctors, engineers, scientists and other valuable & talented members of society are faced with giving up their dreams to pursue their careers because of the enormous strain of financial burden through student loans. We are going to fall behind countries who offer free university programs to educate their citizens until we can no longer compete. It's unfair that only the high-born well off children have a shot at achieving their academic goals without the dread of spending the next 30 years of their life paying off their education. Our population as a whole can only gain - not lose - from having more intelligent highly capable citizens. Why is this even an issue?
More colleges should eliminate loans for new students. Most of the current presidential candidates have something to say about student loans. However, what seems really important is for most colleges to eliminate student loans and propose loan free programs for students which would promote higher education without burdening students with enormous debts.
I do feel that it would be fair for loans to be eliminated, but students who have been attending for a while should be granted this forgiveness, as well. I believe that loan reduction should be based upon income and personal circumstances. If someone has a large family or isn't able to pay their regular bills, they should be given assistance that will provide them with relief.
Student loans are a big part of college because they allow students to find the funds needed to further their education. However, forcing colleges to eliminate loans places a burden on these colleges and will hurt them in the long run. Colleges should increase the number of scholarships they make available to students, so those that deserve extra money can get them.
Colleges should not eliminate loans for new students. Sometimes loans are the only way that a student can pay for college. Scholarships do not cover the full cost of a good education. Grants are aimed at lower-income families. Students from middle-class families usually do not have college funds because the economy and debt have given their parents the option of food or future.