The idea that colleges should be on the hook for some portion of their graduates’ outstanding student loans has been around for a while. Some say it’s a great way to put a dent in the national student loan debt. Others also argue that colleges, by having “skin in the game,” would enhance the quality of the student population, as they’d be more cautious about who they accept, knowing that a sub-par student with high debt and low job prospects would be a future financial burden.
Proponents of the “skin in the game” idea may have a good test case at Adrian College in Michigan, which has announced a special program that will guarantee up to $70,000 of a graduate’s student loan debt. If a graduate in the program earns less than $20,000 per year, the college will make all of his or her loan payments. If the graduate earns between $20,000 and $37,000, the college will make payments on a sliding scale.
Read more about the program here.






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