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[quote=Anonymous]All I know is that I have friends that took out loans over 30 years ago, who have paid back multiples of the amount borrowed, with no end in sight. They aren’t in lucrative careers, although many do important work (lower paying university jobs, for instance). They didn’t come from wealth, and didn’t take out massive loans, just not been in a position to pay a whole lot more than the minimum (don’t own homes, drive old cars, have to sell possessions to cover emergencies). They’re not out to screw anyone over, and I’m okay with people that have already repaid their loans many times over, getting relief.

The loans themselves need to be restructured. They should be prevailing rates, or even slightly lower, even if the lender is private, and there should be a cap on the amounts that can be borrowed, maybe with carve outs for certain higher degrees. There is no reason to expect 18 and 20 year olds to be financially savvy, and there should not be room for exploitation. [/quote]

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