re: #570 Decatur Deb

The student loans we had here in the 60s were decent—government guarantees to lenders kept their risks and interest low (about 2% IIRC). We didn’t sart paying until graduation, and had about 10 yrs to pay out. Subsequent versions have turned students into a debt crop.

The New Zealand system has the Goverment lending the money directly, and the tax department recouping the repayments directly from from the borrower’s wages. (Those of us with a student loan use a special tax code, and the repayment is collected on top of our normal deductions.) It’s low risk for all concerned, as you can’t escape repayment without engaging in tax fraud, and the Government can’t change the rates or interest without alienating a huge number of voters.