Other than the default issue, how is this better?

quote:

Originally posted by Mikhailoh:
Other than the default issue, how is this better?

It ties the repayment to income level. If you don't get a job, no repayment. If you get a low-paying job, smaller repayment.

There's definitely a potential for abuse, but it could also be a great thing for kids who have no way to finance college but are (rightly) cautious about loans.

I like that it might cut down on the for profit schools selling training in popular but low prospect industries. No more $200,000 debt puppeteers.