The United States should look into this matter. They should implement the law that says 'no Canadian student should repay their loan until they are earning at least $25, 000 per year'. This is to allow better economic balance and to promote good living standards among the citizens giving them a way to pay their loans in an easier way.
Yes, Canada's practice should be implemented in the United States. It makes sense to allow students to hold off from repaying student loans until they have enough income to do so. I feel that so many young people are facing tremendous financial hardships as soon as they leave college. Having this common sense approach to repaying loans would help them immensely.
When students leave university they already have enough worries with starting their career in the working world as well as trying to get other aspects of life on the right path. Things such as getting their own home and having children in the future are all concerns when people are in their early twenties. Reducing their liabilities when they are low earners gives them the best chance of prospering, and long term this will lead to the repayment of the student loans. It may mean they take longer to be paid, but they will be paid eventually and people will be happier.
American colleges are taking advantage of students every single day. We have been made to believe that it is acceptable to be paying inflated tuition rates that our parents and grandparents never had to experience. We have been made to believe that it's because there are so many additional students that they have to increase tuition in order to cover expenses. Is it not true that having more students would bring in additional tuition in the first place? We are now requiring students go into thousands of dollars of debt in order to attain an education. Students have debt that will follow them for years after graduation, lingering over them constantly and ensuring that it is difficult to ever stay afloat. Implementing a plan like Canada has would probably have an incredibly relieving effect on students and even some parents in the United States. We owe it to our children and our grandchildren to ensure that they get the education they want and deserve for a fair price. This should be only the first step in repaying them for the emotional distress they have already endured.