The student loan system allows schools to receive a students payment in full while the student then shoulders the debt they then have to pay off. It's supposed to be a helpful system but instead it becomes draining.
Students very rarely come out of college without debt and with a job offer lined up. Internships are almost a must to further yourself into a better paying job to keep up with all the bills and the debt. Graduated students do not make enough money to keep up with the debt, meaning it only increases and gets harder to pay off.
44.2 million, those in debt, might not seem like a big number when the global population is in the billions but there are more than 200 million students globally.
That means 1 out of 5 students come out of school with debt. If the student loan system was removed then this could be changed.
Maybe it wouldn't destroy the debt but it could make it more manageable to pay off. It wouldn't rack up astronomical interest nor would it be impossible to pay. Can we really say the system in place is working when nothing else has been tried?