This has a critical flaw: those expecting to work in a high-paying field will self-select more traditional loans, whereas those pursuing a degree with less promising income expectations will disproportionately opt for this type of loan.
If a university (or a state) chooses to force everyone to study under this model, they'll find that students expecting high-paying jobs will go elsewhere, and students expecting low-paying jobs will flock to those schools.
Fundamentally, if I'm planning to study CS for the next four years, it's a good bet that I'll be making more money than someone getting an English degree; and I don't particulalry want to subsidize their education with my future earnings.
There's a close parallel here with John Galt quitting his job in Atlas Shrugged.
If a university (or a state) chooses to force everyone to study under this model, they'll find that students expecting high-paying jobs will go elsewhere, and students expecting low-paying jobs will flock to those schools.
Fundamentally, if I'm planning to study CS for the next four years, it's a good bet that I'll be making more money than someone getting an English degree; and I don't particulalry want to subsidize their education with my future earnings.
There's a close parallel here with John Galt quitting his job in Atlas Shrugged.