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Better system: interest free student loans. That way user pays, but user doesn't get gouged. It works well enough here in New Zealand. Your student loan is in
by toomanybeersies 11y ago
Better system: interest free student loans.
That way user pays, but user doesn't get gouged.
It works well enough here in New Zealand. Your student loan is interest free here, unless you go overseas for more than 6 months.
- semi-extrinsic 11y agoDo you mean interest free forever, or while in college? Also, if I may ask, how much of a typical student loan goes to tuition fees? I think interest free student loans to pay for the cost of living while in college is a good system.
- toomanybeersies 11y agoInterest free forever, except if you leave the country. There are minimum repayments, which are skimmed from your paycheck. About $7000 a year goes to tuition, and about the same on living costs. The government also has a means-tested student allowance, which is based on your parents income, which I'm not eligible for, but replaces the living costs loan (which is a bit bullshit).
- duncan_bayne 11y agoI grew up in New Zealand; I'm familiar with the system and think it's great, with one catch: it's funded through coercion. Why not set up a non-profit and solicit donors, sponsors, etc.? That way you can have all the benefits of interest-free student loans, without the coercion.