re: At least half of students defaulted or failed to pay down debt within 7 years

Student loans are set up for failure. Here let's lend money to someone with no credit history, no work history and no idea what they will end up doing if they actually graduate.

Then the loan is set up without having to make payments for years, but its accruing interest daily.

Why not make someone actually qualify and repay the debt immediately. I can't buy a car, house or get a credit card without expecting to start paying it back.

Let's face it, college isn't for everyone. And as grandpa used to say... world needs ditch diggers too.