And those kids whose parents can pay off the $120,000 in loans for their kids will graduate without the immense burden of $1400/mo in loan payments for 10 yrs. Those kids whose parents can’t pay are going to be controlled by that debt, especially poor kids who have no familial backup support. Sounds like such a fair plan. Shift greater burden onto the poor. 8-|
There is a plan that works for families who don’t want to or cannot afford to pay $60,000. (And $60,000 isn’t enough for most elite schools.) It is called letting go of the “I am too good for attending the in-state public or accepting merit at some lowly school that has average kids attending.” The mentality of posters on CC who accept and believe that elite schools are the only path to whatever future they dream of is removed from the real outcomes of kids who attend lower ranked schools and rise to the top.
I wouldn’t ever let my kids take in $30,000/yr in debt when I know that for $0 in debt they can end up in the exact same place (and they have. This isn’t a hypothetical in our family.)