Looks like Canada is doing something about the student loan problem:
Kitchener-Waterloo — If you have a large student loan debt that is more than seven years old, you can now have it forgiven by a bankruptcy, according to personal insolvency professionals at PricewaterhouseCoopers (PwC).
Under amended Canadian federal bankruptcy laws which came into effect on July 7, 2008, if your student loans are older than seven years, they can now be forgiven or compromised by filing a bankruptcy or consumer proposal with a licensed trustee in bankruptcy. As well, there are changes to the law which may see your student loans forgiven after five years if you are experiencing significant financial hardship.
“The change to the law will help those who have been struggling for years with unmanageable student loan debt to get a fresh start” said Wesley Cowan a Kitchener-Waterloo-based bankruptcy trustee at PwC.
Exchange Morning Post
An article on Massachusetts and grants:
Yet many educators are less optimistic. Two decades ago, a typical state grant covered 80 percent of college costs; now it covers 15 percent. And state and community colleges, which educate a disproportionate number of low-income and minority students, have little money to spend on financial aid.
State lags on student grants - The Boston Globe
And in my frugal Yankee state:
Student debt in N.H. 2nd in nation
CONCORD — New Hampshire student loan borrowers have the second highest debt burden in the country. Eighty-two percent of the 1,500 borrowers surveyed said that without student loans, attending college would not have been possible, according to survey results recently released by the New Hampshire Higher Education Assistance Foundation Network Organizations.
Student debt in N.H. 2nd in nation
The NHHEAF said recent survey results support the need for its program designed to educate student loan borrowers about the serious consequences of defaulting on a loan.
There are some interesting results of a survey that they did on those in the state with student loans. One interesting national statistic was that about 56% of students used loans to fund college. The surprising part of the statistic was that 44% don't use loans which to me is pretty remarkable.
http://www.nhheaf.org/pdfs/Borrowing...hterfuture.pdf