Talking about university loans, let's take a minute to share and contemplate the awesome system I've discovered in Australia: You can borrow money from the govt for your studies. The interest rate is only equal to the Consumer Price Index. You repay your debt through taxes after you start working, and your taxes are capped to something like 45% of your income.
Which means, if your studies don't land you a good job, you're not choked on the spot by banks. And it still transfers more responsibility to the student than subsidizing education to make it free.
Which means, if your studies don't land you a good job, you're not choked on the spot by banks. And it still transfers more responsibility to the student than subsidizing education to make it free.
http://en.m.wikipedia.org/wiki/Tertiary_education_fees_in_Au...
More countries should copy the same system for education loans.