I think there is a possibility that they might, but in reality, that would be a terrible idea. We are in so much debt that this is the last thing that we should be doing.
I completely agree. As ideal as that would be, that is just not going to happen. It should not happen, anyways.
Not going to happen. As a lot of people have already said, it's just not financially smart in this current situation. And besides, people knew what they were getting into when they took those loans.
This is why tuition has gotten so out of hand. That and the fact that universities have hired more and more "administrators" and other staff they have to pay inflated salaries, benefits, and pensions to for life.
Tuition is part of the problem. The other part of the problem is in this day and age is very difficult to get a good paying job with out at least a four year degree. Now before all you Nay Sayers start with - "well I have a great job and no degree"- I am talking about main stream corporate type employment. To be a nurses aid you need a degree of some level, to be a secretary these days you need a degree. These are not always huge paying careers, in fact if they pass the minimum wage to $15 an hour like they want to in this State these types of workers will really start to struggle. Why is that? These are careers where the take home might only be in the range of $30K a year. Imagine having to spend that in just tuition to get that job and then finding out that your worth will soon be comparable to that of a fast food worker. The big difference being that, now the person that has loans is not only struggling economically but saddled with debt. We need people to do clerical work, as teachers aids and all sorts of lesser careers (we probably have enough lawyers.. just saying.) If corporations do not re-define the value of some of these lower-tier jobs our country will be in a world of hurt. Either the colleges have to make it harder for a person to get a degree and to stop giving degree's in goofy things that amount to almost zero career potential, or the workers that need to have a degree need to be better paid like they once were. Forgiving the loans is not the answer.